AUD Weekly and monthlyCurrencies follow the US Equity markets closely, and as I expected US markets to continue down and not up, I wasn't expecting Currencies to continue higher on Thursday.
I was bearish on the AUD below the Weekly 50% level, but no follow through from .9040, instead price has moved back into the previous 3-day cycle breaout @ 92.00
Once again currencies will follow Index markets closely on Friday (read US recap Report)
Either Friday opens higher and swings down from 92 cents and into a lower close...
Or Friday continues to rally up from the 50% level and completes another R85 point rise upwards.
Euro Weekly and 5-day pattern
Euro far more orderly.Weekly 50% level is the critical level on friday:- either higher daily open and Sell down from the Weekly 50% level and 5-day 50% level (min 85 points back down into the pink)
or price continues higher, back towards the previous 3-day breakout @ 1.4944 and higher (3-day cycle high)
No probability on direction on Friday
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
