1st March 2012 Euro & AUD Weekly cycles

Euro Weekly and Daily cycles

Price action in the Euro is what I thought would happen, and continue down as far as the Weekly highs breakout from last week @ 1.3318.

Normally this becomes a retest of the breakout and the price continues upwards.

However, the cycles the daily range don't provide an ideal set-up, as the 5-day 50% level and 12 hour channels could push the trend down towards Thursday's lows (Random support)

In conclusion:- either Thursday's lows or the 2nd 12 hour pattern ( after11pm) provides the set-ups for the trend to continue higher

Or Thursday's lows breakout, and the trend continues down in the 2nd 12 hour pattern towards the Weekly 50% level and March 50% level. (5-day lows become resistance)

AUD Weekly and Daily cycles

Weekly and monthly highs formed resistance on the last day of the month...

Those resistance levels have now disappeared

The Trend is either going to find support in the 12 hour range and remain above the Weekly 50% level and continue higher...(within the 12 hour channels white)

or it's going to break, and the trend continues down into the Weeky lows by Friday,

• 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 February 2012 Euro & AUD Daily report

Euro Weekly and Daily cycles

12 hour support without hitting the Weekly levels (support), and now the Euro looks like it's moving up towards the Weekly highs by Friday

if for some reason selling takes place on Thursday, then the Weekly levels continue to remain as support

AUD Weekly and Daily cycles

As noted in yesterday's report, the view is that the AUD is moving up into the Weekly & monthly highs @ 1.0831, probably today

5-day 50% level and 12 hour channel support @ 1.0721

and then continue up towards 1.09740 by Friday, as shown in the weekly report (monthly cycles)

 

• 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

28th February 2012 Euro /AUD Daily reports

Euro Weekly and Daily

Euro coming down into Support levels @ 1.3358 , matched with the 12 hour channels.....

my view is that the trend will then continue up towards the Weekly highs.

Note:- 2nd 12 hour could dip as low as 1.3318 ( last week's highs), before it continues higher

AUD Weekly and Daily

moving back towards the Weekly and monthly highs:- expected resistance until the end of Wednesday....

and then likely move towards the March highs

12 hour random support

and Tuesday high random resistance.

• 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

27th February 2012 Euro & AUD Daily reports

Euro Weekly and Daily cycles

my view is that the euro will continue up into the Weekly highs, and then drift back down towards last week's breakout and Weekly level @ 1.3318 - 1.3358.

A similar pattern as  last week in  US Index markets

AUD Weekly and Daily cycles

Trend bias is the Weekly 50% level...

if above it is moving back towards the February & Weekly highs, which could form resistance until Thursday, and then continue up into the March highs.....

and then the Yearly highs @ 1.12

if below the Weekly lows are support zones....

• 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 February 2012 Euro AUD Weekly Reports

Euro Monthly Weekly cycles

previous monthly cycle pattern didn't eventuate, as this week continued higher and is moving towards the 1st Quarter 50% level.

The Quarterly 50% level and next week's highs is seen as a resistance level, for a retest of this week's breakout

AUD Monthly and Weekly cycles

Trend bias is to continue up to the Yearly highs @ 1,12...

Expectation that it's following the March cycle and continuing up towards the highs, with the best set-up being the Weekly lows as support.

However, if above the Weekly 50% level the trend bias is to move upwards in the last week of February

24th February 2012 Euro AUD Daily report

Euro Weekly and Daily cycles

breakout of the weekly highs, looks to be extending up towards next week's highs.

Friday's highs random resistance.

Support:- 5-day 50% level  matched with Thursday's high breakout level

AUD Weekly and Daily cycles

If Friday is going to continue upwards, as it remains above the Weekly 50% level, then the 12 hour channels will be the trend guide.

However,   below the Weekly 50% level and 5-day 50% level...

price could revisit Friday's 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

23rd February 2012 Euro & AUD Daily report

Euro Weekly and Daily cycles

no change from yesterday, and no leads for today...

12 hour channels (white) are the trend guides

AUD Weekly and Daily cycles

looks to be moving down into Thursday's lows and the Weekly level @ 1.0583 (random support)

Weekly 50% level resistance

• 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 February 2012 Euro & AUD Daily report

Euro Weekly and Daily cycles

stuck betweem a rock and a hard place without any clues on which direction it will take...

I would use the 12 hour channels as random support

and try and work within the 12 hour channels until it clears up

AUD Weekly and daily cycles

looks to be moving lower (weekly lows by Friday)

Weekly 50% level and daily 50% level resistance levels

random support Wednesday's 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

21st February 2012 Euro & AUD Reports

Euro Weekly and Daily

The euro is now trading above the February 50% level...

and if it's going to continue upwards, then the 12 hour channel highs should form support and move towards Tuesday's highs :- random resistance.

A break of support will resume the downtrend in the 2nd 12 hour range

AUD Weekly and Daily cycles

Random resistance Tuesday's highs, and the upper weekly level @ 1.0827

Random support Weekly 50% level and channel 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

20th February 2012 Euro, AUD Daily report

AUD Weekly and Daily cycles

Weekly 50% level is the trend guide on Monday....

along with taking out Friday's highs or lows, with the expectation that Monday will continue to trend outward.

my hunch is down at this stage

AUD Weekly and Daily cycles

Friday high and Weeky level rejection sets up the trend to continue downward using the Weekly 50% level as a trend guide.

Daily 50% levels are the trend guides.

• 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 February 2012 Euro & AUD Weekly reports

Euro Monthly and Weekly

I have the view that the Euro is trying to move lower within the monthly cycles

and if it's going to continue higher, then the March single monthly lows (red) could provide the support pattern for a rise towards the 1st quarter 50% level

AUD Monthly and Weekly

My view continues to be down....

However, next Week's 50% level could push the AUD back up towards the highs

17th February 2012 Euro & AUD Weekly report

Euro Weekly and Daily cycles

Weekly level and Thursday's lows provided a random support pattern...

and Thursday has closed above it's Weekly 50% level, which could see Friday continue higher in the 2nd 12 hour range. (11pm)

during the 1st 12 hour range from 11am onward...

February 50% level could continue to act as resistance....

Trade the 11am levels:- could be choppy for a number of hours

AUD Weekly and Daily cycles

Weekly 50% level has supported the AUD...

and it makes it unclear how Friday will play out...

my view is that the AUD is trying to move lower:- Weekly level and Friday's highs random resistance zones

Trend guide and 4 hour patterns (random support):- 5-day 50% level (41 pips)

• 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

16th February 2012 Euro & AUD Daily reports

Euro Weekly and Daily cycles

Euro to continue down into the Weekly levels and Thursday's lows:- Random support

Weekly 50% level resistance

AUD Weekly and Daily cycles

my view is down, but the Weekly 50% level is the trend guide, and may continue support this week's trend.

11am highs matches Thursday's highs:- resistance

Trend guide 5-day 50% level

Random support 11am levels.

Will need to breakout of Thursday's lows  and Weekly 50% level becomes resistance to get more selling into the Aussie dollar

• 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

15th February 2012 Euro & AUD Daily report

Euro Weekly and Daily cycles

My view is that the Euro is moving lower..., as per Weekly report

Therefore the 5-day 50& level and 11am channel lows are seen as resistance. @ 1.31740.

Note;- I could be wrong, as the weekly 50% level could push the euro upwards in the 2nd 12 hour range.

Random support Wednesday's lows @ weekly level @ 1.29820

AUD Weekly and Daily cycles

My view is that the AUD is moving down into the Weekly lows...

11am levels upper channels resistance @ 1.0749

5-day 50% level is the trend guide.

Note;- I could be wrong as the Weekly 50% level support could push the AUD higher

• 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

14th February 2012 Euro, AUD Daily reports

Euro Weekly and Daily cycles

if the euro is going to continue lower, then the 11am channel lows are the trend guide.

Tuesday's lows need to breakout, and continue lower in the 2nd 12 hour pattern (11pm)

AUD Weekly and Daily cycles

if the AUD is going to continue lower...

Then the Weekly level and 11am highs (white) are seen as resistance

5-day 50% level trend guide in early trading 11am to 7pm

• 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 Febraury 2012 Euro AUD Daily reports

Euro Weekly and Daily cycles

As per Weekly report, my view is that the price action of the past 5-day days can lead to further weakness, because the Weekly range failed to breakout.

Therefore it's a simple case of trading on the side of the February 50% level

Weekly level @ 1.3253 is a random resistance zone

Weekly 50% level is a random support zone

AUD Weekly and Daily cycles

Friday's 5-day low breakout is often bearish:- Monday's lows the target and random support.

However, the Weekly 50% level could also support this week's open, resulting in a move back upwards.

However, the 11am levels (white channel lows) are seen as resistance zones in early trading

• 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 February 2012 Euro & AUD Weekly Reports

Euro Monthly and Weekly cycles

The euro couldn't breakout on the upside during this 5-day cycle...

and based on this price action, my view is that the Euro will be pushed downward once again.

The Weekly levels will come into play next week.

trend guide February 50% level

AUD Weekly cycles

My view is that the AUD has reached a 1st quarter top (February highs)

and will begin to unwind towards the Weekly lows.

how quickly it moves down depends on next week's 50% level, as price could

revisit the upper weeky level @ 1.0792.

Overall target remains 1.12 for this year, but a move downward before another

move upwards coming into the 2nd Quarter would be an ideal pattern (text-book)

10th February 2012 Euro/AUD Daily report

Euro Weekly and Daily cycles

random resistance Daily and Weekly highs, the may breakout and move higher (2nd 12 hour pattern)

trend guide 11am upper channels

Support, 11am lower channels and February 50% level.

AUD Weekly and Daily cycles

2nd monthly wave pattern complete at the February highs...

next week's levels will determine whether the trend rotates downward before it moves up towards 1.12 by the 2nd quarter.

Today:- trade the 12 hour levels using the daily 50% levels as trend guides

• 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

9th February 2012 Euro & AUD Daily reports

Euro Weekly and Daily

Weekly and Daily highs random resistance.

if the Euro is going to follow a 5-day trending pattern and breakout of those highs, then it should rise up from 11am support, matched with the February 50% level.

AUD Weekly and Daily cycles

AUD has reached its February highs, completing its 2-month wave pattern.

the first sign that a 1st Quarter top is in place will be price trading below 11am support
Overall target remains 1.12, but I prefer a move down before it continues higher in the 2nd Quarter.


trend guide 11am upper channels

• 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

8th February 2012 Euro and AUD Daily report

Euro Weekly and Daily

The Euro is following a 5-day rising pattern, as explained in the weekend report.

Whether it breaks out of the Weekly and Daily highs on Wednesday is another matter.

5-day 50% level and February 50% level is seen as support

AUD Weekly and Daily cycles

AUD is about to complete the 2nd monthly wave pattern around the monthly highs in February.

Sadly, yesterday didn't precisely hit the 11am support levels, and Weekly level @ 1.0674

As noted in the Weekly report, these Monthly highs are seen as resistance, but they need to be validated by lesser timeframes, with the first sign being, price trading below the 5-day 50% level.

Otherwise we have a Primary high target of 1.12 in 2012.

Random resistance Daily and Weekly 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

7th February 2012 Euro & AUD Daily reports

Euro Weekly and Daily cycles

Random resistance 11am high levels

no other view for today.

AUD Weekly and Daily cycles

Support 11am lower levels and Weekly levels @ 1.0674

random resistance @ 11am upper levels

• 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

6th February 2012 Euro & AUD Daily reports

Euro Weekly and Daily cycles

simply trade on the side of the Weekly level and 5-day 50% level from 11am onwards

current price action suggests it's down

AUD Weekly and Daily

11am levels will determine whether a higher weekly open will push downward from the single monthly high...

or push upwards:- February 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

4th February 2012 Euro, AUD Weekly Report

Euro Monthly and Weekly

Weekly level @ 1.3140 and the February 50% level will determine if the next 5-days continues to trend up towards the 1st Quarterly 50% level @ 1.3587

or

whether the trend will be pushed downward.

Normally I would look at the current monthly cycles and make the calculated guess that the trend will be pushed downward using the February 50% level and single montlhy highs. as resistance.

However, as shown in the book, Forex patterns often have the opposite effect, resulting in the next 5-days trending upwards.

AUD Monthly and Weekly highs

Trend bias is to follow the break and extend pattern in the monthly cycles, along with the 2 month wave pattern towards the February highs.

Those monthly highs are seen as resistance, confirmed by patterns in the daily cycle when looking for reversal patterns downward

3rd February 2012 Daily Report

Euro Weekly and Daily cycles

Euro stuck between levels, (Weekly & Monthly)... and it will eventually breakout of the 5-day range.

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

Support resides around the 12 hour lows @ 1.30760

AUD Weekly and Daily cycles

Break and extend pattern completed.

As per yesterday's report.... the trend can continue to move up towards February highs

or begin to rotate downward.

either way, 12 hour channels highs is the trend guide.

Random support 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

2nd February 2012 Euro & AUD daily cycles

Euro Weekly and Daily cycles

$64 dollar question....

Is the Euro going to continue higher this week??, or is the February 50% level going to push it back down??

at this stage i'm not sure...

if it's going higher, then the 12 hour channels (white) is the trend guide:- random resistance Thursday's highs.

And anything below the 5-day 50% level is a sing of weakness

Random support white channel lows

AUD Weekly and Daily cycles

AUD completing the break and extend pattern, after finding support this week. Primary trend suggests a move towards $1.12 in 2012...

However, these upper levels in February will begin to form resistance zones in the 1st quarter

Too early to tell when it will happen, but my view is that price will revisit the Monthly 50% levels during this current Quarter, or the next before it completes the move towards 1.12.

Current monthly 50% levels reside around $1.03.

first sign of a rotation down will be price trading back inside the 'Dynamic' Weekly cycle levels (white)

Today:- Random resistance Thursday's highs

Random support the 5-day 50% levels

• 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