Euro Weekly and Daily range
Lower weekly open and rising up from the January lows.
Tuesday was choppy, and we find ourselves with Wednesday starting the day trading below the Weekly level @ 1.3013, but more importantly the 5-day 50% level and blue channel highs.
Therefore there are a number of resistance levels on Wednesday around 1.3010-13.
Wednesday is a random pattern, that could see the Euro continue the overall trend back down towards the Weekly lows, as part of the break and extend pattern from last week’s lows.
Or it’s going to break above those levels and continue back towards the previous breakout @ 1.3090.
AUD Weekly and 5-day pattern
AUD following the Weekly dynamics whilst below the January 50% level.
Break and extend pattern on Tuesday can continue down towards Wednesday’s lows.
Trend guide 9847/54 during the first 12 hours.
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
