Euro Weekly and 5-day pattern
Euro finding support around the 2nd Weekly lows but below the November 50% levels, as shown in yesterday’s report.
Wednesday’s trading formed an inside day, which might see Thursday continue down.
Yesterday I was looking for the market to continue down from Tuesday’s breakout into Wednesday’s lows, but the Weekly lows has supported the euro and it now looks to be moving back towards the 5-day 50% level on Thursday.
If the trend is going down, then Thursday shouldn’t be trading above the 5-day 50% level.
Resistance 1.3617
5-day 50% level @ 1.3592
AUD Weekly and 5-day pattern
Same expectation on the AUD of moving down into Wednesday’s lows, but the weekly level is supporting the trend and price is swing back into the 5-day 50% level.
5-day 50% level is seen as the trend guide & resistance @ .9847-56
don’t trade shorts above .9880
