1st August 2012 Euro & AUD Daily report

Euro Weekly and Daily cycles

July low support ended yesterday....

therefore keep an eye on a breakout of the 12 hour channels.

otherwise above the channels and it's trying to move upwards.

AUD Weekly and Daily cycles

I'm still bullish on the AUD

as long as it remains above the Weekly highs @ 1.0494

otherwise it's back down into the Weekly level @ 1.0470

• 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

31st July 2012 Euro & AUD Daily report

Euro Weekly and Daily cycles

The euro looks like it could go lower confirmed by a breakout of the 12 hour channels.

However, the July lows @ 1.2230 could continue to support price for 1 more day when the monthly cycles shift lower from tomorrow (1st august)

AUD Weekly and Daily cycles

AUD looks like it will move up into the July highs on the last day...

and then proceed up into the august highs not long after

• 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

30th July 2012 Euro & AUD Weekly report

Euro Weekly and Daily cycles

The euro has failed around it's Friday 5-day highs...

This can often lead to a 2-day reversal to start the week...

as long as it's below the Weekly level @ 1.23440

AUD Weekly and Daily cycles

Same applies on the Aussie...

as long as it's below the Weekly level @ 1.04070

otherwise it's up into July highs and then into August highs the week after

• 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 July 2012 Euro & AUD Weekly report

Euro Monthly & Weekly cycles..

The Euro could continue to swing upwards after reaching the 3rd Quarterly lows @ 1.2085

But it could also struggle to break the Weekly highs and also the single monthly lows (RED @ 1.2417) for the next 5-days

AUD Monthly and Weekly cycles

likely to continue up into the July highs 1.0546 by the end of the week...

and then up into the August highs the week after next.

Support 1.0470 (Weekly level)

27th July 2012 Euro & Daily reports

Euro Weekly and Daily cycles

3-day counter-trend move into the 5-day highs and Weekly 50% level completed.

not sure how Friday will play out, as it could remain within the 12 hour channels & Friday's highs

AUD Weekly and Daily cycles

AUD didnt remain below the Weekly level @ 1.0365

and now this same level can form support today...

for a move towards 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

26th July 2012 Euro & Daily reports

Euro Weekly and Daily cycles

Random resistance @ 1.2194.

Note:- don't hold shorts above it during the 2nd 12 hours today (11pm), as the Euro could move into a 3-day counter-trend move upwards...

which takes it towards the 5-day highs.

AUD Weekly and Daily cycles.

AUD failed to reach the Weekly lows (Support)

And now the Weekly 50% level is seen as Support @ 1.0256

whilst the Weekly level @ 1.0365 is seen as random resistance.

Note:- AUD could remain within the 12 hour channels (white) (choppy)

• 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 July 2012 Euro & Daily reports

Euro Weekly and Daily cycles

Random support Weekly lows..

keep an eye on whether there is a 12 hour sell pattern down into Wednesday's lows.

otherwise above the 12 hour channels (white) and the 5-day 50% level is seen as resistance

AUD Weekly and Daily

as noted yesterday, Weekly pattern suggest weakness down into Thursday - Friday.

Weekly 50% level is now the trend guide on a potential move down into the Weekly lows within the daily 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

24th July 2012 Euro & Daily reports

Euro Weekly and Daily cycles

Weekly level @ 1.2194 is seen as resistance

Random Support Weekly lows

AUD Weekly and Daily cycles

Break & extend pattern in the Weekly cycles Failed, as Monday moved back down into the Weekly 50% level.

Whenever I've seen these opposite patterns occur, the rest of the week will often continue to trend towards a lower Weekly Close

Therefore my view is that the AUD is moving back down into the Weekly lows...

Resistance 5-day 50% levels & 12 hour channels.

Random support Tuesday's lows:- 41 to 84 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

23rd July 2012 Euro & Daily reports

Euro Weekly and Daily cycles

Breakout Friday's lows looks to extend down into Monday's lows...

As long as it's below the Weekly level @ 1.2194

AUD Weekly & Daily cycles

12 hour support along with last week's highs @ 1.0355 forming a breakout pattern.

Therefore, there is the expectation that it will extend upwards, and reach the Weekly highs and also the July 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

21st July 2012 Euro & AUD Weekly report

Euro monthly and Weekly cycles

my view was that the Euro would try and move higher to retest last week's beakout,

but that failed because price was trading below the Yearly lows @ 1.2546

3rd Quarterly lows and next week's lows random Support

AUD Monthly & Weekly

Weekly highs @ 1.0360 should support the Aussie dollar and complete the break and extend pattern into next week's highs...

And with the expectation that the trend will extend up into the July & August Highs :- (2-month wave pattern)

17th July 2012 Euro & AUD Daily Reports

Euro Weekly and Daily cycles

The Euro continues to fail to move upwards and retest the previous Weekly breakout.

I still have the view that it will try and do that, but the risk of that not happening increases, as there could be a break of the July lows Support in the last week of the month, and then an extension towards lower lows in August.

As noted in the Book...

there is either going to be a last week rise,

or a break and extension towards lower monthly lows, as price is trading below the 2012 Yearly lows

AUD Weekly and Daily cycles...

Trend bias is up into the July highs,

whilst this week's highs forms a support zone @ 1.0355

• 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 July 2012 Euro & AUD Daily Reports

Euro Weekly and Daily cycles

The euro continues to struggle to rise, whilst the July lows continues to support price

I still have the view that the Euro is trying to move up towards the previous Weekly  low breakout

Daily channels aren't providing ideal set-ups for that to happen

AUD Weekly and Daily cycles

Trend has moved beyond the Weekly highs, and is trading above Wednesday's highs

Trend guide remains the Weekly highs @ 1.0355 (if below short-term weakness)

but whilst price is above Wednesday's highs, price is following the daily cycles up towards Thursday'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

18th MAY 2011 Euro, AUD Daily report

Euro Weekly and Daily cycles

After yesterday's price action I would treat Wednesday as an UP day...

using the 5-day 50% level as support, and the Weekly level @ 1.2293 as the trend guide.

if Wednesday breakouts of the 5-day highs, then the 5-day highs in the 2nd 12 hours becomes support for a continuation upwards on Thursday:- break & extend pattern

AUD Weekly and Daily cycles

Random resistance Weekly and Daily highs @ 1.0355

• 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 July 2012 Euro & AUD Daily Reports

Euro Weekly and Daily cycles

Random resistance the Weekly level @ 1.2293

Random Support the 5-day 50% level...

With the Expectation that the Euro is moving up towards the previous Weekly lows

AUD Weekly and Daily cycles

Trend bias is up...

but I would still like to see the AUD hit the Weekly 50% level @ 1.0186

Random resistance Weekly level @ 1.0340 & Tuesday'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

16th July 2012 Euro & AUD Daily reports

Euro Weekly and Daily cycles..

As per Weekly Report, my view is  that the Euro will move upwards...

But today, price could remain range bound between July lows (Random Support @ 1.2230)

and the Weekly level @ 1.2293

AUD Weekly and Daily cycles

Trend bias is UP towards the Weekly level @ 1.0304

with the possibility that price revisits the Weekly 50% level this week.

Daily 50% levels random Support

14th Juyl 2012 Euro & AUD Weekly Report

Euro Monthly and Weekly cycles

July lows has supported the current Weekly timeframe, and we also have the completion of the Weekly brean & extend pattern down into this week's lows.

My view is that the Euro will try and make its way back towards the previous Weekly brerakout @ 1.2463

over the next 2-weeks.

And more than likely hit resistance around that level & also the Yearly lows @ 1.2546

AUD monthly and Weekly cycles

Current price action suggests the Aussie dollar will continue higher...

3 Quarterly 50% level & July 50% level has formed support

Weekly 50% level Support @ 1.0186

13th July 2012 Euro & AUD Daily reports

Euro Weekly and Daily cycles

friday could continue down into the daily lows

however, Thursday's price action completes the break-n-extend pattern from last week's lows.

If above the July lows @ 1.2230 then treat Friday as part of a 3-day counter-trend move upwards

AUD Weekly and Daily cycles

Daily 50% level is the trend guide, along with the Weekly 50% level..

as to whether AUD moves down into Friday's lows...

as part of Thursday's break-n-extend pattern.

12th July 2012 Euro & AUD Daily reports

Euro Weekly and daily cycles

Random Support around the July lows @ 1.2230

however, if below the 12 hour levels, then the trend bias is down into Thursday's lows, which goes close to matching the Weekly lows:- break and extend pattern from last week's breakout.

Weekly lows Support

AUD Weekly and Daily cycles

Weekly 50% level Support could see the AUD move higher this week...

However, the Weekly level @ 1.0286 along with Thursday's higher could slap the trend back down once again.

Short term trend guide @ 11am using the white channels (upward bias?)

11th July 2012 Euro & AUD Daily reports

Euro Weekly and Daily cycles

Random support July (monthly and Daily lows)

but the position of the 12 hour channels doesn't provide any leads to whether it will reverse upwards...

However, we should be looking for a potential move upwards retesting the previous Weekly low breakout

AUD Weekly and Daily cycles

11pm resistance, but the Weekly 50% level continues to support the trend.

my view is that price will try and remain within the 12 hour channels (White)

Random resistance the 5-day 50% level

10th July 2012 Euro & AUD Daily Report

Euro Weekly and Daily cycles

The Euro could make its way upwards, as part of retesting least week's Weekly breakout:- first target @ 1.24130 (Weekly level)

However, the single monthly lows in Red @ 1.2335 could act as resistance and push the trend down into the July lows.

Trend guide the 12 hour channels (White)

AUD Weekly and Daily cycles

Random Support the Weekly 50% level...@ 1.0161

and now it's up to the 12 hour channels to decide whether there is more upside...

5-day 50% level is the trend guide @ 1.0190

Whilst the 12 hour channels (White @ 11am & 11pm) are random resistance zones.

Note:- Below the Weekly 50% level is open to risk of moving down into the July 50% level @ 1.01

9th July 2012 Euro & AUD Daily Reports

Euro Weekly and Daily cycles

Trend bias is down into the July lows...

Random Support July lows and Monday's lows..

Whilst the single monthly lows can act as resistance @ 1.2335

AUD Weekly and Daily cycles

Random Support the Weekly 50% level and Daily 50% levels..

A break of those levels and the trend will continue to move down into the July 50% level @ 1.010

7th July 2012 Euro & AUD Weekly reports

Euro monthly and Weekly cycles

Down into July's lows @ 1.2230.. and as far as the Weekly lows, as part of the break & extend pattern.

At this stage it's too early to tell, as the Euro has risen up from the Yearly lows but then failed to continue higher, and is now back below the Yearly lows in 2012 @ 1.2546....

Could be heading for a 3rd quarterly breakout (July lows), and a continuation down into the 2013 Yearly lows

AUD monthly and Weekly cycles

3-Quarterly 50% level & Weekly 50% level (Support) @ 1.0162

if below the July 50% level @ 1.0100

then it's likely to follow the move down into the July lows @ .9653 to  .9420

6th July 2012 Euro & AUD Daily Reports

Euro Weekly and daily cycles

Breakout of Thursday's lows (& Weekly lows) looks to be extending down into Friday's lows

which match the single monthly pivot (Random Support)

That random support could result in a Friday upward move to retest the Weekly lows.(resistance)

Support:- 1.23350

Resistance:- 1.2463/72

AUD Weekly and Daily cycles

not sure about AUD...

could remain within the 12 hour channels (White)

and in between the Weekly levels @ 1.0208 & 1.03210

5th July 2012 Euro & AUD Daily report

Euro Weekly and Daily cycles

Weekly 50% level failed to hold, and its down into the Weekly lows (Random support)

5-day 50% level & 12 hour channels resistance

AUD Weekly and Daily cycles

after hitting the Weekly highs, the reversal pattern is a minimum move down towards the 12 hour blue channels. (& white @ 1.0231)

Once that's complete, then the 2nd 12 hour pattern becomes random.

4th July 2012 Euro & AUD Daily report

Euro Weekly and Daily support.

Weekly 50% level help form support and an 'inside day'...

12 hour levels from 11am will define whether Wednesday continues higher, as part of the trend rising up from the Weekly 50% level towards the Weekly level @ 1.2967

AUD Weekly and Daily cycles

AUD looks to be moving up into the Weekly and Daily highs (Random resistance)

At this stage it's too early to tell whether the trend will hit those highs and reverse down, simply because the AUD is now above the Yearly 50% level and is moving upwards at the start of the 3rd Quarter.

Based on the current price action, this trend could last for 2-months:- (2 month wave pattern upwards)