Euro Weekly and 5-day pattern
Current price action in the Weekly charts favours a down move using last week's close below the 3-week lows as a trend guide & 1.3724.... towards this week's lows
However, if the USD index follows a reversal pattern down from the November 50% level, then the Euro will continue higher
Trend guide @ 1.3704
Would need to be trading above the 1.3766 during the US timezone to help see the euro move higher back towards the Weekly 50% level.
AUD Weekly and 5-day pattern
Based on the Weekly patterns and Friday's close below the 5-day lows, I would look for the trend to continue down from the Weekly 50% level into Monday's lows & .9763
However, based on the price action in the USD and potential weakness the AUD continue continue to swing back towards the November highs once again @ 1.0110
trend guide .9902
keep an eye on whether price begins to trade above the weekly 50% level & .9940 from 7pm onwards.
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
Exact levels shown for current day aren't confirmed until midnight GMT
