Forex Spread: October 2011

1st November 2011 Euro, AUD daily report

Euro Weekly and Daily range

Euro is back into major support levels around the weekly 50% level and the new Monthly 50% level in November.

However, there are a couple of patterns that suggest more downside...

#1) Tuesday's 5-day 50% level

#2) and the potential rise in the USD, as per Weekly report.

if above the 5-day 50% level, then the Weekly level @ 1.40100 is seen as resistance

AUD Weekly and Daily cycles

Support, that could see more gains...

or more weakness towards the Weekly 50% level and new November 50% levels.

5-day 50% level and Weekly level is the trend guide.

All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT

Exact levels shown for current day aren't confirmed until midnight GMT

31 October 2011 Euro, AUD, Daily repory

Euro Weekly and Daily cycles

11am support level will decide if the euro continues with the Weekly break and extend pattern (UP)

or whether it slips down into the lower channels, as per of retesting last week's highs 1.4035

AUD Weekly and Daily cycles

Same applies on the AUD....

Below 11am levels and first target is the 5-day 50% level

All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT

Exact levels shown for current day aren't confirmed until midnight GMT

29th October 2011 USD, EURO, AUD

USD monthly and Weekly cycles

October lows random support, and it could continue to dip down into the November lows.

There is a section in my new book that talks about these monthly reversal patterns that occur after break and extend patterns in the Quarterly cycles.

Trend won't often resume an upward move until the following month.

That new month kicks in next week, therefore traders need to keep an eye on a potential reversal pattern in the USD once it's moves above the monthly 50% level.

Euro Monthly and Weekly cycles

Break and extend pattern in the Weekly cycles should continue up into next week's highs, and then reverse back down into the this week's high, as part of retesting the breakout.

AUD Monthly and Weekly cycles

Same applies on the Aussie Dollar

28th Ocotber 2011 Euro, AUD Daily report

Euro Weekly and Daily

Break and extend pattern from Thursday has an expectation that it will extend up into friday's highs (randon resistance)...

as part of a move towards the November highs, which is also part of a Weekly break & extend pattern into next week's highs

however, the single montlly high @ 1.4217 could push price down into the 5-day 50% levels (Support)

AUD Weekly and Daily

Same applies on the AUD....

Resistance Friday's highs and the October monthly highs @ 1.0850

27th October 2011 Euro, AUD, Daily report

AUD Weekly and Daily cycles

The AUD looks like it wants to continue back towards the highs

Euro Weekly and Daily cycles.

Same applies on the euro using the 5-day 50% level and white channels as support.

if below those levels, then the Weekly levels and October 50% level are the next level of support @ 1.3777

All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT

Exact levels shown for current day aren't confirmed until midnight GMT

26th October 2011 Euro, AUD, Daily Reports

Euro Weekly and Daily

First 12 hours today is based on whether the trend continues towards the Daily and weekly highs

or whether it dips down into the 5-day 50% level and random support levels.

Trend guide white channel highs.

AUD Weekly and Daily

Same applies on the AUD

All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT

Exact levels shown for current day aren't confirmed until midnight GMT

25th October 2011 Euro, AUD Daily cycles

Euro Weekly and Daily

In the Weekly report, I have the Euro heading much higher....

But at this stage the Weekly and Daily highs are seen as resistance.

AUD Weekly and Daily

Breakout on Monday should push upwards on Tuesday....

Random resistance around the Weekly & Daily highs

All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT

Exact levels shown for current day aren't confirmed until midnight GMT

24th October 2011 AUd, Euro Daily report

AUD Weekly and Daily

Friday high and 2-day reversal to start the week off?

using the trend guide @ 1.3440

If that's the case price will move down into the 5-day 50% level and find random support during the first 12 hours & Weekly level.

However, if above that same level the trend bias is up (random resistance Monday's highs)

Euro Weekly and Daily

As per Weekly report, there is a bias to move upwards.....

12 hour support as shown @ 11am (1.3840)

All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT

Exact levels shown for current day aren't confirmed until midnight GMT

22nd October 2011 USD, Euro, AUD Weekly Report

USD Monthly and Weekly cycles

Following the Weekly cycles towards next week's lows.....

With random support around the Single monthly lows @ $75.38

Euro Monthly and Weekly cycles

Trend bias is up towards the Weekly highs, and random resistance around the single monthly highs @

1.41380

AUD Monthly and Weekly cycles

Moving upwards, with resistance around the single monthly highs and 4th Quarterly levels...

@ 1.0501- 1.0587

21st October 2011 Euro, AUD Daily report

Euro Weekly and Daily cycles

Based on the consolidation above the October 50% level, there is every reason why the Euro and other currencies can rise upwards on Friday (higher Weekly close).

However, as noted in the Weekly report, the USD index is showing that same patterns, and that decides to rise upwards on Friday, currencies will move in the opposite direction

5-day 50% level is the trend guide ;- each way bet.

AUD Weekly and Daily

Same applies on the AUD....

price is either going to continue higher

or it's going to retest Friday's channel lows and close in the middle of the 5-day range

All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT

Exact levels shown for current day aren't confirmed until midnight GMT

20th October 2011 Euro, AUD Daily report

Euro Weekly and Daily cycles

This week currently looks like it's consolidating within the 5-day range.

Today:- at this stage I would treat Thursday as trading within the white channels...

unless there's a breakout of the 5-day lows during the first 12 hours today

AUD Weekly and Daily

Same applies of the AUD
Random support Thursday's 12 hour lows

All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT

Exact levels shown for current day aren't confirmed until midnight GMT

19th October 2011 USD, Euro, AUD

USD Index monthly and Wekely cycles

If you look at the monthly cycles you would think that the USD would rise...

however, the Weekly cycles doesn't support that view just yet.

Therefore in the short-term there aren't any clues whether the USD will continue higher.

Euro Weekly and Daily

Unless the Euro is above the 5-day 50% level and October 50% level, to help make a case for a move higher...

the current price action suggests a potential move towards Wednesday's lows.

AUD Weekly and Daily

Whilst the AUD has a case of heading upwards using the 5-day 50% level as support

All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT

Exact levels shown for current day aren't confirmed until midnight GMT

18th October 2011 Euro, AUD Daily Report

Euro Weekly and Daily

Currencies have started this week with a 2-day reversal pattern.

The price action in the euro often suggests that, if Monday reverses and closes below the 5-day 50% level....

Tuesday will continue to move lower (2nd day reveresal) from the 5-day 50% level towards the daily lows (5-day lows)...

That means the October 50% level @ 1.3776 becomes ressistance....

with 12 hour support levels using the blue channel lows

AUD Weekly and Daily

The 5-day range in the AUD doesn't provide that exact same set-up, as the 5-day 50% level and OCT 50% level @ 1.01210 can form support.

Therefore the white channel low @ 1.0196 can push the trend down towards the October 50% level.

Once it gets there, it becomes and each way bet on whether it holds support

All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT

Exact levels shown for current day aren't confirmed until midnight GMT

17th October 2011 Euro, AUD Daily report

Euro Weekly and daily cycles

As per Weekly report, trend bias is to move upwards.

12 hour support shown @ 1.3828

if Below October 50% level and 5-day 50% level becomes support
@ 1.3776

AUD Weekly and Daily cycles

Same applies on AUD....

12 hour support @ 1.0275

15th October 2011 USD, Euro, AUD Weekly report

USD Monthly and Weekly cycles

Break of Support could see the trend in the USD continue much lower....

However, the Trend could continue down into next week's lows that aligns with the 4th Quartertly 50% level and then swing back upwards.

Whatever it does ( which I don't know yet)...we just simply look for patterns in the 5-day range that's going to help decide the set-ups to trade.

Euro Monthly and Weekly cycles

Likely to continue up into next week's highs....

but then we should look for patterns that will reverse back down to retest this week's breakout and October 50% level.

AUD monthly and Weekly

Same applies on the AUD...

but AUD could push up as high as 1.0587

14th October 2011 USD Index, Euro, AUD

USD Index Monthly and Weekly cycles

USD index has reversed down from the October highs into Support levels.

Support won't be verified until Friday (Weekly close).....

Because the Index could see more falls if it remains above the Weekly lows...

towards the 3rd quarterly 50% level @ $76.62

Euro Weekly and Daily

The euro didn't continue with the breakout on Thursday, but instead it formed an inside day...

If the USD index drops, then Euro will continue upwards on Friday using Support...

and potentially breakout of the daily highs, and follow the new weekly cycles upwards.

If the USD index support levels are vailid, then Friday could remain choppy (5-day highs Resistance).

In conclusion:- both the USD index & Euro are at key levels, that are either going to reverse the trend

or breakout.

at this stage I don't know which way it will go

AUD Weekly and Daily

The price action in the AUD, looks like it wants to continue upwards after Thursday's price action.

Random resistance Friday's highs.

All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT

Exact levels shown for current day aren't confirmed until midnight GMT

13th October 2011 AUD & Euro Daily report

AUD Weekly and Daily...

Daily close above the October 50% level could see more gains towards Thursday's highs and then the Weekly highs

Support

Euro Weekly and Daily

Interesting pattern in the Euro, as Wednesday has closed above the Weekly highs and October 50% level...

Whilst above those levels the trend could continue towards the single monthly highs @ 1.4217 over the next 2-weeks...

There is also a Wednesday high breakout that would normally continue towards Thursday's highs

12th October 2011 Euro & AUD Daily report

Euro Weekly and Daily cycles

Not sure whether the trend will continue up towards the October 50% level and Weekly highs

Wednesday/Thursday retests the Weekly 50% level using the Weekly level @ 1.3663 as resistance

(random support 5-day 50% level)

AUD Weekly and Daily

Support in the 12 hour range for a potential move towards Wednesday;s highs and October 50% level....

Random resistance Weekly level @ 1.011- 1.0121

All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT

Exact levels shown for current day aren't confirmed until midnight GMT

11th October 2011 Euro, AUD, 2011

Euro Weekly ansd daily range

currencies didn't follow with a 2-day stall/reversal pattern, instread it has continued upwards, as part of a swing towards the October 50% levels and Weekly highs....

Random resistance Thursday's highs.

Support as shown (5-day 50% levels)