AUD Weekly and 5-day patternAUD most likely to continue towards the november highs by Friday.
Whilst price is above the pink filter, the expectation is another 2x85 point rise higher.
Below the pink filter:- and price is back into the 5-day 50% level.
This is because price has closed above the 3-day cycle, which might see a 1-2 day reversal
Euro monthly and SpiralEuro completes the move into the 4th Quarter highs.
I did have the Weekly highs as resistance @ 1.5050, with matching pink filter @ 1.5070, but this has seen the euro continue upwards into the channel highs.
For the next 2 -days should be about whether the Euro continues to trend in a higher Weekly close on Friday making double R85 moves upwards (pink to pink)
Or 1.5152 is a resistance level and price rotates back down into the 50% level @ 1.4980.
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
