Euro Weekly and Daily range
As per weekly report, the Trend bias is to continue upwards in MARCH...
Today's trading is based on whether Tuesday breaks out and continues upwards...
or price reverses back down from the monthly highs, using the brown filter as a trend guide
If the Euro reverses down, then Tuesday's support (random) comes into play @ 1.3924
AUD Weekly and Daily rangeMy view was that the AUD would continue upwards this week, but Monday failed to remain above the channel highs @ 11am.
Currently price is below the channel highs @ 1.0122 on Tuesday, which has been acting as resistance for a number of weeks.
Today's trend guide is the brown filter, with blue channel lows as random support.
I still have the view that the AUD is trying to rise upwards, but at this stage, there's no probability pattern that suggests Tuesday will be the day.
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
