AUD monthly and WeeklyI wasn't expecting the AUD to move upwards at the start of the 1st quarter, but based on the current price action I would look for AUD to continue into a higher weekly close...
AUD 5-day pattern and spiral filterA higher weekly close can still have a down day before it continues higher into Friday
Therefore the ideal pattern for any UP move to continue would be for price to come back down towards yesterday's 5-day high breakout and retest the 5-day 50% level.
Random resistance:- spiral R85 high and upper channels:-
Euro Monthly and Weekly.Comparing the dynamics and trends of the Euro to the AUD and we can see the difference.
At this stage the expectation is for the Euro to move up into the 50% levels and then continue down into January lows.
The key level for the rest of this week will be the 3-week 50% level @ 1.4408.
If below it's going down...
Above can continue higher into the January 50% level.
Euro 5-day range and spiral filterYesterday saw the Euro reverse off the lows on Monday and swing back into the 5-day highs.
If the Euro is going to go higher, it should move down into a R85 low and then continue upwards using the 50% levels as a support and trend guide.
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
