6th July 2009 AUD, EUR Daily

AUD Weekly and 5-day pattern

Bearish on AUD....

Based on the 5-day breakout on Thursday and the restest and rejection pattern on Friday from the 5-day 50% level, I would expect the 3-day filter to send the AUD downward early this week.

I would also think sometime this week AUD will go looking to retest the Weekly 50% level with a higher daily close.

Trade on the side of the Yellow filter, with a bias to short

Euro Weekly and 5-day pattern

Based on the 5-day breakout on Thursday and the restest and rejection pattern on Friday from the 3-day filter, I would expect the 3-day filter to send the Euro downward early this week.

I would also think sometime this week the Euro will go looking to retest the Weekly 50% level with a higher daily close.

Trade on the side of the Yellow filter, with a bias to short







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