Euro Weekly and Daily range
The euro continues to remain choppy within the daily range, without moving up into the Weekly highs or down into the Weekly levels.
I still favour a down move, because I believe the USD is supported and trying to rise upwards...
Therefore, once again the 5-day 50% level is the trend guide.
AUD Weekly and Daily range
11pm pattern has pushed to AUD down, breaking support (5-day lows and the Weekly level)
Based on the current price action, the expectation is that the trend is moving lower, and into Thursday's lows
(resistance 4796-97)
AUD 5-day pattern and R84 spiral filter
Higher timeframe support levels held for the first 12 hours (84 pip rise), but it was from 11pm
that the next leg was going to play out (each way bet)...
However, it was the 84 pip spiral filter pattern that favoured a continuation
down (higher open):- resulting in a double 84 pip range into the next spiral filter lows
AUD is now below Weekly support levels, therefore there's an expectation that the trend
will continue down on Thursday...
The 84 pip range favours a move upwards, which aligns with the levels in the daily range..
Therefore resistance is around 1.0809/20 during the first 12 hours
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
