24th Jan 2011 Daily, EUR & AUD
Euro Weekly and 5-day range
As per Weekly report, expectation that the euro will continue towards this week's highs, and most likely remain above last week's breakout @ 1.3531.
Because there's a breakout of Friday's highs the trend should continue up towards Monday's highs.
Trend guide the brown filter
Support as shown @ 1.3551.
If the market continues to move up towards the Weekly highs over the next 2-days...
my view is that the euro will then try and come back and retest the breakout, and then continue higher once again later in the week.
AUD Weekly and 5-day pattern
Once again there's no probability pattern to start the week....
As price can continue to push back towards the 5-day 50% level...
or dip back down into the Weekly level 98.30. (trend guide .9914)
Currently AUD remains stuck between 2 monthly levels, therefore it remains choppy