Euro Weekly and Daily range
January lows currently supporting the Euro, along with the 2nd 12 hour support pattern, as mentioned in yesterday's report.
If the Euro is going to continue to swing back towards the 5-day 50% level @ 1.3049-1.3013 (Weekly level)...
Then the best trend guide is going to be the white channel high @ 1.2915 after 11am.
If below it becomes a random pattern using the brown filter.
AUD Weekly and Daily range
2nd 12 hour support wasn't as robust using the channel lows, but the Weekly level @ 9901 and then the brown filter provided Monday with an UP day.
Based on the current price action, it's hard to see whether Tuesday will continue to trend upwards and break back above the January 50% level @ 1.0007
Trend guide brown filter.
first 12 hour support as shown with the channel lows
Weekly 50% level resistance @ 1.0050 (if it gets that high)
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
