AUD Euro Weekly
At this stage the bias is to continue higher, but price could remain range bound until the end of the monthly (Wednesday).
The only bearish pattern that I would be looking for would be the move downward from the October balance point on Thursday, but confirmed with a Friday close below the 3-week lows.
We can see the 3-week lows much higher in the AUD compared to the Euro.
AUD 5-day and spiral filterAt this stage Monday will be define by the 5-day 50% level, but after the R85 range completes.
If price completes upwards @ .8700, then either AUD continue to move upwards another 85 pips or reverses down into Monday's lows.
No probability on which direction Monday will take.
Euro 5-day pattern and spiral filter.
Same pattern on the euro after the R85 completes @ 1.4733
No probability on direction, but because i'm favouring US equity markets to have an upward bias over the first 2-days this week, this will help support the currencies and can follow the same patterns during GMT and US timezones.
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
