19th Sept 2009, AUD, EUR, GBP Weekly

AUD and Euro

Keep an eye on the price action on the AUD over the next week or so...

If AUD begins to trade below the October balance point (red), then price can slip back towards the October 50% level @ 83.00

And being the 4th quarter and trading below the first month BP, price pattern is to move towards 83 cents, and if price continues to remain below each monthly BP thereafter, price is moving back towards 78 cents.

Euro:-

Looks to be continuing towards the October highs

GBP Monthly

looks bearish and heading down into support whilst below the 50% level.

if it's down into support by the end of this month, then it can move into a lower low pattern in October.

This pattern is because price is moving back to restest the breakout from MAY