Euro Weekly and daily range
current price action on Tuesday is part of a 2nd day reversal pattern down from the October highs.
Trend guide @ 1.3979. (5-day 50% level on Tuesday)
if the trend is going to follow a reversal pattern, then Tuesday needs to breakout of the 5-day lows and continue to trend lower:- below the Weekly 50% level
If Tuesday's 5-day lows support the market (Weekly 50% level), then this week could move into another tight 5-day range pattern.
AUD Weekly and 5-day pattern
Same applies in the AUD
needs to be trading below .9876 and breaking out of Tuesday's lows .9798
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
