Euro Weekly and Daily
My view that the USD is rising and this will put pressure on Currencies to fall.
We saw 11am selling on Monday, but the Weekly level supported the downward trend and reversed upwards...
And looking at the daily range, I would normally favour a higher move on Tuesday.
However, there are higher timeframe 50% levels that can send the trend back downward once again, as the USD makes a move upwards, as per Weekly report
Once reason that could send the USD lower, would be the FEB announcing QE3 over the next few days, which in theory is devaluing the US Dollar
AUD Weekly and Daily
11am selling Monday lasted until the lower Weekly level @ 1.0515...
at this stage, the first 12 hours on Tuesday looks range boundd between the levels (choppy 4 hour patterns)
Random support/ trend guide is the 5-day 50% level
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
