Euro Weekly and 5-day pattern
As per Weekly report, there is a breakout of the MAY lows which should continue down into the June lows, however in the minor timeframes there has been a completion pattern.
Weekly breakout from the previous Week has completed down into the Weekly lows.
Therefore the concentration is now based on minor patterns in the 5-day range and intra-dsay trading:- 41 to 85 points.
Random support Monday's lows.
Trend guide the Yellow level.
AUD Weekly and 50day patternThere is still the completion pattern from previous Weekly low breakout towards the Weekly lows and MAY lows this month.
Therefore Monday's lows are random support in a downward trend (less likely to hold)
Yellow as the trend guide.
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
