Currencies are going to follow the fortunes of the S&P this week during the US timezone.
If the S&P continues down from the Yearly 50% level this will put pressure on the AUD and Euro.
If trading any longs until the end of this month, then I would focus on ‘short’ term support levels and 4 hour patterns of 41-85 pips, because there could be a bias to move lower......
AUD Weekly and 5-day pattern
3-day filter random resistance for a move towards the Weekly 50% level.
Euro Weekly and 5-day pattern
Weekly support on Tuesday but the reversal pattern followed the S&P top and reversal.
5-day 50% level trend guide either way.
I would limit any longs below the Weekly 50% level on Wednesday and below the 5-day 50% level
Euro 5-day pattern and Spiral filter (Primary Range)
Exact levels shown for current day aren't confirmed until midnight GMT
If the S&P continues down from the Yearly 50% level this will put pressure on the AUD and Euro.
If trading any longs until the end of this month, then I would focus on ‘short’ term support levels and 4 hour patterns of 41-85 pips, because there could be a bias to move lower......
AUD Weekly and 5-day pattern
3-day filter random resistance for a move towards the Weekly 50% level.
Euro Weekly and 5-day patternWeekly support on Tuesday but the reversal pattern followed the S&P top and reversal.
5-day 50% level trend guide either way.
I would limit any longs below the Weekly 50% level on Wednesday and below the 5-day 50% level
Euro 5-day pattern and Spiral filter (Primary Range)
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
