AUD Monthly and WeeklyWith the USD index heading down currencies should continue upwards, and in the case of the AUD towards August highs.
However, the USD Index continued down without retesting the 5-day 50% level or Weekly 50% level, so there could still be a higher daily move towards that level on Friday, which could see the AUD and other currencies have a lower Friday close.
AUD 5-day pattern and Primary spiral range @ 85 pipsIf the AUD is going to move down, then it will match the 5-day high which matches the spiral filter top at the same level @ .8357.
If the AUD is going to move up and breakout, then it will be trading above that level and could travel as far as Thursday's 5-day high (another R85)
Euro Monthly and WeeklyNo retest of the Weekly 50% level, for an ideal continuation upwards.
Same view on the euro as the AUD...
Euro 5-day pattern and R85 spiral filterIt's simply a matter of trading on the right side of the 3-day filter which matches the spiral top.
- All Daily forex reports are written aftr 11.00am Sydney Time, which is approximately Midnight GMT
