AUD & Euro Weekly
AUD continues to push up towards the Weekly and January highs, whilst the Euro remains trading between the Yearly 50% level and 3-month 50% levels.
A lot of resistance around the 3-week highs, which match the 5-week 50% level on the Euro.
That resistance is viewed as a potential push down into the January lows.
However, as pointed out in the Weekly report, if the USD Index breaks support and the euro breaks out of the 3-week highs then this Quarter should continue higher, as it's trading above the Yearly 50% levels.
AUD 5-day pattern and spiral filter. Trend guide on Monday is the pink level.
Below the pink and treat Monday as part of a higher Weekly open and selling back down.
Above the pink and it's towards the R85 highs and Weekly highs (random resistance and 'top')
Euro 5-day and spiral filter
Based on the position of the 5-day range within the higher timeframe levels, treat Monday as a no probability pattern.
If day-trading I would simply judge the price action either side of the pink filter and focus on 41-85 point moves
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
