7th June USD, Euro, GBP, AUD, Weekly

Euro Weekly and 5-day pattern

June support...

Yellow trend guide.

Random resistance 5-day 50% level. 1.2058

Above the white and we begin to look for swing patterns back towards the 3-week highs, as per Weekly report




AUD Weekly and 5-day pattern.

Yellow trend guide

7th June 2010, Euro, AUD, Daily

Euro Weekly and 5-day pattern

June lows reached....

Trend guide the Yellow filter...

AUD Weekly and 5-day pattern

Random support @ 8116....

Trend guide Yellow filter

5th June USD, Euro, GBP, AUD, Weekly

USD Index

USD index is reaching the Yearly highs in 2010.

These upper levels along with June highs can resist the trend moving higher, but might not provide a major reversal down until July.

There is a break and extend pattern in the monthly timeframe and Quarterly timeframe.

Therefore June's highs can resist the market a swing price back down towards the 3-week lows, but then there can be another move upwards in early July to complete the Quarter extend pattern and 3-month 'tops'

Those tops in July are more likely to provide a lasting reverdal pattern.

Euro monthly

If the patterns in the USD index play out then the June lows can swing the euro back towards the 3-month 50% levels

GBP monthly

Same pattern in GBP into June's lows

With a likely move down in July

AUD/USD

AUD likely to continue down into June's lows.....

4th June 2010, Euro, AUD, Daily

AUD Weekly and 5-day pattern

No probability pattern to be trading longs on Friday....

At this stage AUD looks like it moving into a tight 5-day pattern to close out the Week, as the Weekly timeframe remains in MAY.



Euro Weekly and 5-day pattern


As the USD index continues to rise, and this puts pressure on the Euro.

5-day 50% level is the trend guide @ 1.2212

If above then treat Friday as an UP day towards the highs.

Hard to be trading shorts on the Euro other than a minor 41 pip reversal (4 hour) at the 5-day 50% level.

Note:- Yellow filter matches the 5-day 50% level

3rd June 2010, Euro, AUD, Daily

Euro Weekly and 5-day pattern

With this week's price action it now looks like the euro is moving back towards the higher timeframe 50% levels by Friday, as long as price remains above the 5-day 50% level on Thursday...

Treend guide:- 1.2280




AUD Weekly and 5-day pattern

I was bearish on the AUD this week, but with yesterday's swing back above the 5-day 50% level price now looks like it's going upwards.

As long as price remains above .8420

2nd June 2010, Euro, AUD, Daily

Euro Weekly and 5-day Range

With Monday's price action I would look for a potential swing towards the Weekly 50% level, confirmed with a 4 hour close above the 5-day 50% level and then a retest as support.

Random resistance the 3-day highs (Blue)

Below the Yellow and the bias is to push back down.

At this stage the Euro looks to be consolidating until the end of the week.

AUD Weekly and 5-day pattern.

Whilst below .8423 the bias is to continue down towards the Weekly lows.

Trend guide Wednesday’s 50% level @ 8363-68

Random support Wednesday’s lows

1st June 2010, Euro, AUD, Daily

Euro Weekly and 5-day pattern

Based on the current patterns there is no probability pattern for Tuesday.

Trend guide Yellow @ 1.2272

AUD Weekly and 5-day pattern

As per Weekly report, there is an expectation that a break and Extend pattern in the AUD can still play out whilst below 84.23.

Break and extend pattern is based on the Weekly timeframe and last week's retest of the 3-Week 50% level and now below .8423

Yellow Trend guide. 8433

31st MAY 2010, Euro, AUD, Daily

Euro Weekly and 5-day range

Last day of the month and price looks to be rotating back towards the June 50% levels.

Trend guide the 5-day 50% level on Monday:- 1.2286-300




AUD Weekly and 5-day pattern

Same expectation as the Euro, however price is trading below the MAY low, which may resist Monday moving higher @ 8663.

Yellow trend guide @ 84.72.

Note:- there is still a break and extend pattern that may occur in the Weekly timeframe:- break out of the Weekly lows and extends down into the Weekly lows, however whilst above the white channel the bias is to rotate towards the June 50% levels

29th MAY USD, Euro, GBP, AUD, Weekly

USD Index

At this stage the expectation is to continue towards the June highs, whilst this puts pressure on the currencies.

Euro Monthly and Weekly

Euro down into June lows, but there is still the possibility that next week consolidates and moves up towards the June 50% level and then sells down the week after.

GBP Monthly and Weekly

Still bearish on GBP, but next week can rise towards the June 50% level using 1.4364 as a trend guide.

AUD Quarterly and monthly

Quarterly low support which matches the Yearly 50% levels.

But unless price is trading above the June 50% levels and 3-Quarterly 50% level price can remain consolidating next week.

28 MAY 2010, Euro, AUD, Daily

AUD Weekly and 5-day range

AUD swinging back towards the MAY low breakout and the Weekly 50% level.

It is too early to tell on the direction, but a Weekly 50% level and 5-day high resistance on Friday will often start the following week with a downward bias.

Resistance:- 8556-93

Above 8593 is a random pattern as it's not in a 'bullish trend or BUY set-up'


Euro Weekly and 5-day pattern

I was expecting more upside this week as part of a rotation towards the June 50% levels.

That might still occur but will need to be helped by a breakout of the 3-day highs.

Trend guide:- Yellow & 1.2248