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)