8th November 2010 , Euro AUD, Daily

Euro Weekly and 5-day pattern

Price currently looks to be pushing down towards the Weekly 50% level and channel lows @ 1.4020 to 1.3998.

If the market bounces off these levels and closes back above 1.4103 then there is an expectation that the Euro is following the Weekly highs and then towards the November highs


AUD Weekly and 5-day pattern

November highs and the channels in the 5-day range favour a move down towards 1.0104 as a first target during this 12 hour period.

2-day reversal pattern will depend on the US timezone towards 1.0038