AUD and Euro WeeklyExpectation of higher prices in October but Euro lagging in this week's lower Weekly open and 2-day reversal.
At this stage price is above the September highs and with 1 day remaining until October the monthly balance point is the support zone (red)
Therefore Wednesday could remain in another sideways pattern until Thursday.
At this stage I favour higher moves, but I can't discount price moving down early in October to test the October 50% level (3-month 50% level) and 4th Quarter 50% levels either.
AUD 5-day and spiral filter5-day 50% level confirmed with the spiral low.
If AUD remains in a sideways then wednesday will most likely stall around .8785
If Wednesday continues with the Weekly trend, as it continues with the October trend, then the AUD will move in a pink to pink (another R85 range) into higher highs and Thursday.
Euro 5-day pattern and spiral filterTuesday has support but whether Wednesday continues higher from support needs to be verifed with a move above the 5-day 50% level.
I can't discount Wednesday continuing either, as price can still move down into the October 50% levels.
- All Daily forex reports are written aftr 11.00am Sydney Time, which is approximately Midnight GMT
