AUD Weekly and 5-day patterns (spiral)Yesterday's view was for currencies to move into the 5-day 50% level and continue down because of the same expectation in US equity markets.
With the Dollar Index now above the 5-week 50% level, there is an expectation that currencies should continue to rotate downward on Wednesday.
Resistance:- R85 high and spiral filter levels @ 92.12
Euro Weekly and 5-day patternEuro breaking the Weekly 50% level but trading around 5-day support.
R85 high will be the trend guide.
if price is going down it should reject from this level, as it matches the Weekly 50% level.
If price is rising above 1.4856 and above the Weekly 50% level, then I wouldn't be trying to pick shorts on Wednesday (until next pink filter match)
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
