29 November 2010 Euro, AUD, Daily



Euro Weekly and 5-day pattern

Trend bias is down, but we have a lower Friday close and 5-day support, which often leads to a 2-day reversal pattern:- target 1.3407 (weekly level).

Trend guide during Monday’s first 12 hour period @ 1.3246/56.

A 2-day reversal will then align with the start of the new month and December

Random support 1.3205


AUD Weekly and 5-day range

At this stage the trend bias looks to be moving down into the weekly lows, which aligns with the November 50% level.

However, based on the levels in Monday's range, i'm not sure AUD will drop below .9628 to .9642 during the next 12 hours.

And there's no Friday low pattern that favours a 2-day reversal upwards.

Resistance .9720