Euro Monthly and Weekly
The Euro is breaking critical support levels this week, with Yesterday’s breakout of the 3-week lows @ 1.3090
The Euro is now trading below the Yearly 50% level @ 1.3279, and also the 3-quarterly 50% level @ 1.3180
There is random support around January’s lows @ 1.2888, but with the breakout of the 3-week lows it is likely to continue towards the first quarter lows @ 1.2648
Euro 5-day pattern.
Another breakout of the 5-day range on Thursday, and it’s likely to continue down into Friday’s lows
Brown filter trend guide.
Resistance:- 1.3090 to 1.3111
AUD monthly and Weekly
AUD trading below the January 50% level and heading down into the Weekly lows @ 9893
Possible price action is to follow a double Weekly low pattern next week (next week’s lows).
At this stage it’s too early to tell whether the AUD will continue down towards the 1st Quarter lows @ .9564
AUD 5-day pattern.
AUD can continue to follow the 5-day range down into Friday’s lows (random support) with matching Weekly lows..
Brown filter trend guide.
If above .9962 then there is a possible 2nd 12 hour (11pm) move back towards the 5-day 50% level
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
