1st June 2012 Euro & AUD Daily report

Euro Weekly and Daily cycles

Trend bias is to continue down into the June lows

There is always the possibility that price swings up to the June 50% level next week...

but there's nothing in the daily cycles that's providing any short-term long set-ups.

Random Support Friday's lows.

AUD Weekly and Daily cycles

Trend bias is down...

random support Weekly and 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

31st MAY 2012 Euro & AUD Daily report

Euro Weekly annd Daily cycles

No Support around the higher timeframe levels, and the failure to rise upwards in the last week of MAY into the June 50% level.

Today is the last day of MAY, and we can already see the market path for June, as the minimum move

Random Support Thursday's lows

AUD Weekly and Daily cycles

no last week rise towards the June 50% level, and now heading down into the Weekly lows...

as part of a move towards the 2nd Quarterly target of .9426.

Random support Thursday's lows (weekly lows)

Resistance daily 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

30th MAY 2012 AUD & Euro Daily Report

AUD Weekly and Daily cycles

Random 12 hour Support...

but be aware that price will begin to be trading below the Weekly level...

and the upward bias towards the June 50% level is open to Risk

Euro Weekly and Daily cycles

Can't stay above the Yearly lows, and is open to risk of falling further

Random Support Weekly and Daily lows

29th MAY 2012 Euro & AUD Daily reports

Euro Weekly and Daily cycles

Above the Yearly lows and trend bias is to continue up in the last week of MAY towards the June 50% levels

AUD Weekly and Daily cycles

Trend bias is UP

Reandom resistance Tuesday's highs

28th MAY 2012 Euro & AUd Daily reports

Euro Weekly and Daily cycles

Whilst the Euro is above the Yearly lows @ 1.2546 the trend is looking to move up towards the June 50% level.

However, the 12 hour channels aren't providing the ideal set-up for upwards gains ;- Random resistance

AUD Weekly and Daily cycles

Weekly level is the trend guide, along with 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

26th MAY 2012 Euro & AUD Weekly Reports

Euro Monthly and Weekly cycles

Trend bias is down, as part of the break and extend pattern from the MAY lows into the June lows.

However, there is 1 week to go in MAY, and often price can rotate upwards into the following monthly 50% level...

and then once again rejected down into the June lows, completing the break and extend pattern :- SUPPORT

AUD Monthly and Weekly Cycles

Same applies in the AUD...

Trend bias is down into .9426

Weekly levels will define whether the last week of the month continues down or rotates upwards into the June 50% level.

25th MAY 2012 Euro & AUD Daily Report

Euro Weekly and Daily cycles

Yearly lows haven't played a support role, and it now looks like it will dip down into the Quarterly lows...

matched with Friday's lows:- random Support.

There is still the view that price will swing up towards the June 50% level (next months level)..

but daily patterns aren't providing the confirmation.

AUD Weekly cycles & Daily cycles

Weekly lows supporting the AUD, but I have the view that the overall trend looks to be moving down into the Yearly lows.

That could happen next week, or price could rise upwards into the June 50% level, (next 5-days) and the once again be rejected down into those Yearly lows

Note sure how Friday will play out, as there are random support and resistance levels using the 12 hour channels in the daily 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

24th MAY 2012 Euro & AUD Daiyl reports

Euro Weekly and Daily cycles

The Euro has reached the Weekly lows and also the Yearly lows @ 1.2546.

Now we begin to look to see if the trend is going to swing upwards, as part of rotating back towards the next monthly 50% levels in June.

So far the Daily cycles aren't providing an ideal confirming pattern

AUD Weekly and Daily cycles

Weekly low support, and the rest of this week is based on whether the trend begins to rotate upwards

as part of moving towards the following monthly 50% levels.

or whether the trend resumes its downward path towards the Quarterly & Yearly lows @ .9464

The Daily cycles suggest more weakness into Thursday's lows

But I would also keep an eye on 12 hour channels for a possible rise.

Random Resistance the 5-day 50% level at 11am

• 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 MAY 2012 Daily Euro & AUD Daily report

Euro Weekly and Daily cycles

Price didn't hit resistance levels in the Weekly cycles, but has resumed its trend towards the Weekly lows.

Trend is to continue down into Wednesday's lows

Daily 50% levels as resistance

AUD Weekly and Daily cycles

Same applies on the Aussie Dollar

Random support Daily and Weekly 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

22nd MAY 2012 Euro & AUD Daily report

Euro Weekly and Daily cycles

The Euro could continue to move as high as the MAY lows and Weekly 50% level by Friday.

But at this stage I would trend Tuesday's highs and the Weekly level @ 1.2880, as resistance

AUD Weekly and Daily cycles

Could continue towards the Weekly 50% level and MAY lows by Friday.

But I would trend Tuesday's highs and the Weekly level as resistance @ .9976

• 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 MAY 2012 Euro & AUD Daily Reports

Euro Weekly and Daily cycles

This week's trading is based on whether the trend continues down into this week's lows @ 1.2580 before the market swings up towards the Weekly levels @ 1.2880

Trend guide the 5-day 50% level @ 11am

AUD Weekly and Daily cycles

Same applies in the AUD...

11am levels the trend guide...

as part of a potential move down into the Weekly lows, and then the Yearly lows (as per Weekly Report)

or up towards the Weekly level @ .9976 over the coming day.

• 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 MAY 2012 Euro & AUD Wekely reports

Primary, Monthly & Weekly cycles

Trend is down into the Yearly lows.

MAY lows (breakout) are seen as resistance.

Next week's level @ 1.28800 is seen as resistance for a move down into next week's lows (random Support) 

AUD Primary, Monthly and Weekly cycles

Trend bias is down into .9464

MAY lows are seen as resistance.

Weekly levels are seen as our trading range for next week.

Random Support Weekly lows

Resistance @ 99.76

18th MAY 2012 EURO & AUD Daily report

Euro Weekly and Daily cycles

The Euro is looking to continue down into it's Yearly lows @ 1.2546

Random Support Friday's lows.

Trend guide 11am levels, with the possibility if above it's moving towards the 5-day 50% level  (random Resistance)

AUD Weekly and Daily cycles

Looking to move down into its yearly lows @ .9370 (Quarterly @ .9464)

Trend guide 11am levels

Random Support Friday's lows...

hard to tell whether it will move higher than the 5-day 50% level, as it aligns with the Weekly 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

17th MAY 2012 Euro & AUD Daily report

Euro Weekly and Daily cycles

As noted in Yesterday's report, the Euro is moving down into the Yearly lows, which could align with Thursday's lows....

AUD Weekly and Daily cycles

It's below the Weekly lows...

Therefore there is the expectation that price will continue down into Thursday's lows

16th MAY 2012 Euro & AUD Daily report

Euro Primary and Daily cycles

Euro is moving down into the Yearly and 2nd Quarterly lows...

Helped by the breakout in the 2nd 12 hours (Tuesday's lows)

Trend guide the daily cycles (random support) Wednesday's lows

AUD Weekly and Daily cycles

Tuesday's lows Supporting the trend, but it looks like it will continue down into Wednesday's lows.

As mentioned in the Weekly report 2 weeks ago..

long term trend (primary cycle) could see the AUD down around .94cents if it follows the same pattern 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

15th MAY 2012 Euro & AUD Daily report

Euro Weekly and Daily cycles

Weekly lows not supporting the current downward trend.

I still feel that there is a potential swing back towards retest the MAY lows

but at this stage the daily levels aren't providing that set-up 

AUD Weekly and Daily cycles

Looks to be moving down into Tuesday's lows, matched with the Weekly lows (randopm 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 MAY 2012 Daily Euro & AUD Daily Reports

Euro Weekly and Daily cycles

With the amount of negative news coming out of Europe the trend bias looks to be continuing down into the Weekly lows.

It may continue to fall further if shite hits the fan in Greece....

 but we also should look for the possibility that price swings back upwards & retests the MAY lows and previous Weekly breakout

AUD Weekly and Daily cycles

Possible support around Monday's lows...

but my view is that it's moving down towards the Weekly lows, before it looks for a possible swing upwards...

and back up into the Weekly level @ $1.0128

• 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 MAY 2012 EUR & AUD Weekly Reports

Euro Monthly and Weekly cycles

Breakout of the Weekly lows should continue to extend down into next week's lows (random support)

AUD Monthly & Weekly cycles

Same applies on the AUD (Weekly Lows random support)

keep in mind that price is also below the Yearly 50% level and 2nd quarterly 50% level...

Therefore there is more downside to come...

11th MAY 2012 Euro & AUD Daily cycles

Euro Weekly and Daily cycles

Weekly lows and MAY lows formed resistance, along with the expectation that it's going to continue lower

11am levels are the trend guide....

There is always the possibility that this is a fake break and Friday moves upwards, helped by a minor breakout of the 12 hour channels (above the 5-day 50% level)...

but there's no way  of knowing that until it happens. Therefore the bias is to stick with the current downward trend

AUD Weekly and Daily cycles

As mentioned in yesterday's report, the AUD is bearish with the expectation that it's extending towards lower lows in June.

Helped by yesterdays' rejection at the Wee.kly lows.

Trend bias is down, but if inside the 12 hour channels @ 11am there could be an early upward bias

• 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 MAY 2012 Euro & AUD Daily Reports

Euro Weekly and Daily range

As per yestrday's report...a breakout of support is likely to extend down into Thursday's lows.

Whilst the Weekly & monthly lows is likely to form resistance today.

trend guide 12 hour 50% level @ 11am

AUD Weekly and Daily cycles

AUD continues to sell down this week, and is now below the Yearly 50% level @ 1.0222.

and it's below the MAY lows, which means it can extend towards new lows in June.

There is no way of knowing at this stage how far the Aussie dollar will go until the month of MAY ends and provides a road may for June...

but the Yearly lows could be an attraction zone :- 93.76 (91.76)

Weekly lows 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

9th MAY 2012 Euro & AUD daily reports

Euro Weekly and Daily cycles

Single monthly lows and 12 hour channels didn't support the trend, and the Euro is now back down into the Monthly & Weekly lows.

The euro could follow as similar pattern as the S&P overnight, and rise upwards once again, helped by the 12 hour channel lows....

but anything below the Weekly lows (confirmed with another 5-day low breakout (4 hour close) could see a large trending day extend towards new lows on Thursday

AUD Weekly and Daily cycles

MAY lows failed to support the AUD...

and looking at the 12 hour channels (11am) price could continue to move down towards Wednesday's lows.

Note:-  Currently the trend is weak, as it's below the Weekly lows....

however, if above by 11am price is above the Wekely lows &  11am channels, then there could be some e upward movement.

But at this stage the price action doesn't look great, espescially if it's below 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

8th MAY 2012 Euro & AUD Daily reports

Euro Weekly and Daily cycles

Tuesday could begin with some short-term weakness during the 1st 12 hours...

However, the single monthly low @ 1.3011 could step in with some support, resulting in more gains during the 2nd 12 hours

AUD Weekly and Daily cycles

Same applies in the AUD....

possible short-term weakness but then the MAY lows supports the trend @ 1.0186...

as part of price moving up towards the previous Weekly low breakout @ 1.0266

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 midnig

ht GMT

7th MAY 2012 Euro & AUD Daily Reports

Euro & AUD Weekly cycles

Major selling hitting the currency markets...

Euro & AUD Daily cycles

Random 12 hour support around Monday's lows...

for a possible swing up towards the 12 hour 50% level...

Not sure how the rest of the day will play out after that (from 11pm)

5th MAY 2012 Euro & AUD Weekly Reports

Euro Monthly and Weekly cycles

Based on the monthly cycles, the trend looks like it will continue down into the MAY lows..

Short term trend guide is based on the Weekly level @ 1.3064

Whilst the Weekly 50% level is seen as resistance

AUD Monthly and Weekly cycles

Failure to hold support on Friday, doesn't bode well for the overall Primary trend of moving up towards 1.12 during this year.

A break of 2nd Quarterly 50% level, along with the Weekly lows/single monthly lows will put pressure on the AUD to move downward.

Short-term patterns:- we need to keep an eye on next week's lows @ 1.0121 forming support, for a possible retest of last week's breakout @ 1.0247/73

4th MAY 2012 Euro & AUD Daily report

Euro Weekly and Daily cycles

Thursday low support, and now there is a possibility that Friday closes up around the MAY 50% level once again....

helped by the Weekly 50% level and 12 hour channel forming support (random resistance 5-day 50% level)

Below the Weekly 50% level, and trend is moving down into Friday's lows.

AUD Weekly and Daily cycles

 AUD could continue down into Friday's lows....

But the Weekly and single monthly lows Support on Thursday could see the AUD close higher on Friday.

In conclusion:- based on the Weekly levels in Both the Euro and AUD, Friday could close 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