AUD Weekly and Daily rangeExpectation that the AUD would move into a 2-day reversal pattern towards the Weekly 50% level @ 1.0053.
That weekly 50% level might or might be reach precisely, as the first 12 hour levels from 11am will be the trend guide if Tuesday begins a move towards the Weekly level @ 1.02 by Wednesday/Thursday.
Trend guide @ 1.009
Keep in mind that an R85 pip low @ 1.0073 might be reached first.
Euro Weekly and 5-day pattern
my view is that the Euro will continue higher, but at this stage it's gone into a consolidating pattern.
The levels on Tuesday don't look like providing a robust trending day, but if the Euro is above the white channel highs @ 1.3688 then the bias is up.
However, my most robust pattern would be price touching the Weekly 50% level, as it will also align with a R84 pip low (spiral low and rising up from higher timeframe support)
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
