30th November 2012 Euro & AUD Daily report

Euro Weekly and Daily cycles

Trend bias is to continue higher, but whether it breaks out of the Weekly & Daily highs is yet to be seen...

if it does, then the 2nd 12 hour channel & Friday's highs becomes support for an extension up into next week's highs

AUD Weekly and Daily cycles

AUD continues to remain above the single monthly high @ 1.0436, but it failed to continue higher on Thursday, as the Weekly levels stopped that from happening

whilst above 1.0436 the trend bias is up, but at this stage the daily cycles & 50% level could push the AUD down into Friday's lows

those lows are seen 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

29th November 2012 Euro & AUD Daily reports

Euro Weekly and Daily cycles

Weekly level Support and the rest of this week is based on whether the next 2-days continues to trend higher to close out the month of November...

if that's the case then support resides around the 12 hour channels

AUD Weekly and Daily cycles

Single monthly high support @ 1.0436, and now it's based on whether the next 2-days continues higher

or remains under the upper Weekly levels...

12 hour support as shown....

28th November 2012 Daily report Euro & AUD

Euro Weekly & Daily cycles

Random resistance in the 12 hour channels...

Whilst the Support resides around the Weekly level @ 1.28860

AUD Weekly and Daily cycles

Weekly cycles could see the trend reverse back down into the Weekly 50% level, especially if it's below the 5-day 50% level and daily cycle support zones.

However, in the monthly cycles, Price remains above the single monthly high (RED) @ 1.0436...

Therefore this level along with the 5-day 50% level is seen 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

27th November 2012 Euro & AUD

Euro Weekly & Daily cycles

12 hour support to see if it's going to continue upwards (or not)

Random resistance Tuesday's highs (if a breakout in the first 12 hours, then it should continue to trend higher into Wednesday

AUD Weekly and Daily cycles

Same applies on the AUD....

12 hour 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

26th November 2012 Euro & AUD Daily reports

Euro Weekly and Daily cycles

Last Week rally of the Month towards the November highs?

That's a likely scenario, but for Monday the Weekly and Daily highs are seen as resistance for 1 day

AUD Weekly and Daily cycles

Same applies on the AUD, as the Euro

• 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 November 2012 Euro & AUD Weekly Report

Euro Weekly & Daily cycles

Trend bias is to contine up towards the November & December highs...

But there's random resistance around next week's highs

AUD Monthly & Weekly cycles

The AUD didn't follow the weaker monthly cycles, as I thought it would....

Friday rallied, and whilst above the single monthly highs @ 1.0436 the trend bias is to continue upwards for the next 5 days into the end of November into a higher December

23rd November 2012 Daily report Euro & AUD

Euro Weekly and Daily cycles

Because the Euro is back above the 4th Quarter 50% level @ 1.2854 the trend bias is up...

Support resides around the 12 hour channel highs (5-day 50% level)

along with random 4 hour resistance around Friday's highs

AUD Weekly and Daily cycles

Monthly cycles continue to show weakness, but the AUD isn't dropping, as I was expecting it to...

A number of 50% levels come into play on Friday,  (Daily, Weekly, Monthly) and they will decide whether it's going to drop or not...

22nd November 2012 Euro & AUD Daily report

Euro Weekly & Daily cycles

The Euro looks like it wants to rise upwards (Weekly 50% level the trend guide)...

However, the 4th Quarterly 50% level @ 1.2854 remains a random resistance zone (unless Friday closes above it)

AUD Weekly and Daily cycles

I'm still looking at the AUD within the monthly cycle patterns (weak)...

Therefore the Weekly & Monthly 50% levels remain the resistance zones @ 1.0382

21st November 2012 EUR & AUD Daily cycles

Euro Weekly & Daily cycles

The Euro continues to look like it's going to rise upwards, as long as it remains above the Weekly 50% level..

Random Resistance Wednesday's highs

AUD Weekly & Daily cycles

Tuesday didn't continue to rise upwards, as part of the Friday low Support pattern.

Monthly cycles continue to suggest weakness, and with the 2-day upward bias over, we now look to see if there's further weakness this week....

That's going to be decide by the Weekly 50% level and also 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

20th November 2012 Euro & AUD Dailky reports

Euro Weekly & Daily cycles

The Euro is rising and by looking at it's patterns, the trend bias is up towards retrsting the 4th Quarterly 50% level @ 1.2854...

Which is too early to tell whether it will form resistance for more than 1 day

AUD Weekly and Daily cycles

My view was because of the monthly cycle patterns, the AUD would fail to rise higher than the Weekly 50% level and November 50% level.

However, its being driven upwards by the Friday low, so the expectation is that it will continue to rise upwards on Tuesday...

Random Resistance Tuesday's highs & the Weekly levels @ 1.0465

• 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 November 2012 Euro & AUD Daily report

Euro Weekly and Daily cycles

Monthly & Weekly cycles suggests further weakness....

however, if it's above the 5-day 50% level and the Weekly level @1.2727 then the bias is to rise towards the Weekly 50% level:- Random Resistance

AUD Weekly & Daily cycles

Friday low could see the start of the week rise upwards for 2-days, or move into a 2-day stall pattern with an upwards bias...

However, the November 50% level and Weekly 50% level is seen as resistance...

and as noted in the Weekly Report, the Monthly cycles are also projecting further weakness:- Higher step formation, as described in the Book

17th November 2012 Euro & AUD Weekly Report

Euro Weekly and Daily cycles

Trend bias is to remain weak below the 3-month and single monthly lows...

That's going to be helped by price remaining below the Weekly level @ 1.2727

otherwise it could rise up towards the Weekly 50% level

AUD monthly and Weekly cycles

Same applies with the AUD, as it has a higher step formation in the monthly cycles and the 2nd week of the new month has close below the November 50% level.

Trend bias is down:- Resistance 1.0370/1.0382

16th November 2012 Euro & Daily cycles

Euro Weekly and Daily cycles

Note Sure the Euro will rise higher on Friday because of the Weekly levels...

but the Daily cycles suggest it can...

Random Resistance Friday's highs

AUD Weekly and Daily cycles

Looks like the AUD will continue down into Friday's lows because of the Thurday breakout

Friday's lows Random Support, matched with the Weekly level @ 1.0285

• 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 November 2012 Euro & AUD Daily Report

Euro Weekly and Daily cycles

Euro looks like it will follow the break-n-extend pattern down into the Weekly lows, after retesting the previous Weekly low breakout

5-day 50% level is the trend guide

AUD Weekly & Daily cycles

Trend guide & random Resistance the 5-day 50% level and 12 hour channels

Whilst Thursday's lows are random 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

14th November 2012 Euro & AUD Daily report

Euro Weekly & Daily Cycles

The Euro continues to flounder below the November 50% level and with a trend bias to move down into This week's lows.

Tuesday's 5-day low support could result in some early 12 hour upside moves, but I'm struggling to see the Euro move higher than the November 50% level.

Resistance:- 1.2801

AUD Weekly and Daily cycles...

The AUD remains in an uptrend, but for the trend to continue higher it needs to breakout of Wednesday's highs and the Weekly level @ 1.04410 (Resistance)

Mixed patterns for today

• 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 November 2012 Daily report Euro & AUD

Euro Weekly & Daily cycles

Friday's Support low now looks like it could be a 2-day stall pattern below Support, which can result in further weakness this week.

However, Tuesday could once again be another day that stalls under Support...

Random Support, 12 hour channels

Random resistance 12 hour upper channels

AUD Weekly and Daily cycles

5-day 50% level will detemine whether Tuesday pushes higher and closes above the Weekly level @ 1.04418

• 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

12th November 2012 Euro & AUD Daily reports

Euro Weekly & Daily cycles

Euro trend bias is Weak, as per Weekly report..

with a trend bias that's trying to move towards this week's lows.

However, there is a slight chance it's a fake break based on Friday's Support, that could result in a 2-day rise upwards at the start of the week...

Whether it goes up or continues down, the short-term trend guide is based on the 12 hour channels (white)

AUD Weekly and Daily Cycles

continues to remain above the Support levels within the higher timeframe levels...

that will depend on the 5-day 50% level today, as to whether it opens below the Weekly 50% level and continues down

or early rise upwards, with random 4 hour resistance around the 12 hour channel highs (white/blue)

• 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

10th November 2012 Euro & AUD Weekly Report

Euro Monthly & Weekly cycles

Extremely bearish as it closes below Support...

However, there were similar patterns in Gold & Silver last week, that didn't continue lower.

Therefore, we should continue to trade the trend but be aware that it might not continue lower

AUD Monthly & Weekly cycles

Doing it's best to remain above the monthly 50% levels....

but be aware that a higher step formation in monthly cycles often result in the 2nd week of the month reversing and continuing lower.

Weekly 50% 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

9th November 2012 Euro & AUD Daily report

Euro Weekly and Daily cycles

The Euro looks weak, as it trades below Support levels..

it may be a fake break and Friday rises, but at this stage the trend bias is DOWN

AUD Weeky and Daily cycles

November 50% level @ 1.0382 along with the 12 hour channel lows is seen 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

8th November 2012 Euro & AUD Daily Report

Euro Weekly and Daily cycles

The Euro is back down into Critical Support....

However, the Daily cycles aren't providing a robust 'long' set-up, as it looks like

the trend could follow the daily cycles towards Thursday's lows

AUD Weekly & Daily cycles

Weekly highs continue to define whether the trend will breakout and extend towards new highs next week..

or currently it looks like a 'Fake break', and the next 2-days move downward, if it's below 1.0422

12 hour channels (white) 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

7th November 2012 Euro & AUD Daily report

Euro Weekly and Daily cycles

Continues to be supported at the November 50% level, but it  now needs to be trading above the 5-day 50% level,

& then the 4th Quarterly 50% level @ 1.2850

AUD Weekly and Daily cycles

No cut in Rates and the AUD has moved above key resistance zones,

helped also with a breakout of Tuesday's highs, which is likely to continue to extend up into Wednesday's highs.

Any further gains in the AUD should be defined by whether it can remain above the Weekly highs 1.0420 and continue to trend up into a higher Friday close and then a higher move early next week.

• 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 November 2012 Euro & AUD Daily report

Euro Weekly & Daily cycles

The Euro is right on Support, and will be extremely bearish if Tuesday closes below the Weekly lows and November 50% level.

However, if it decides to rise upwards it might not be until the 2nd 12 hour pattern, as the daily channels aren't providing bullish leads at this stage

AUD Weekly and Daily cycles

Speculation is that the Reserve bank will cut rates today...

if that's the case, then the November 50% level is seen as RESISTANCe @ 1.0382

• 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

5th November 2012 Euro & AUD Daily cycles

Euro Weekly & Daily cycle

5-day 50% level is the trend guide

whilst the Weekly 50% level is a random resistance zone

trend bias is to move down towards the Weekly lows

AUD Weekly and Daily cycles

Daily cycles suggests downward, as speculation grows that there will be a rate cut tomorrow...

However, the Weekly 50% level is a random support zone, & if there's a 4 hour close above the 5-day 50% level, price could go looking for the 12 hour channel highs (monday's highs)

or the November 50% level (RESISTANCE) 1.0380

• 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

3rd November 2012 Euro & AUD Weekly Report

Euro Monthly & Weekly cycle

Euro Support zone in the monthly charts,

with random support around the Weekly lows

AUD Monthly & Weekly cycles

higher step formation in the monthly cycles with a higher November 50% level could see the AUD move down into Support, especially with the Reserve bank cuts rate this Tuesday.

Before then the Weekly 50% level @ 1.0329 is the trend guide.

2nd November 2012 Euro & AUD Daily report

Euro Weekly and Daily cycles

Based on the Weekly cycles, the trend bias looks to be moving down...

defined by the 5-day 50% level.

However, if US Index markets continue upwards on Friday, currencies could align with the same trend.

Therefore if above the 5-day 50% level & 12 hour channels, then the bias is UP

AUD Weekly and Daily cycles

looks to be moving upwards on Friday...

Random Resistance Weekly highs 1.04420

• 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