Euro Weekly and Daily range
The Euro has followed the double Weekly high pattern @ 1.3531 using Wednesday’s level as a trend guide and support (1.3370)
This completes the pattern, and the trend remains below the January 50% level.
The trend guide continues to be 1.3438 (weekly level), which may see the Euro remain range bound during the first 12 hours today, as there aren’t set-ups within the 5-day range to help validate further weakness.
No probability pattern on Thursday.
AUD Weekly and 5-day range
Yesterday saw the first 12 hours breakout of the 5-day high and Weekly 50% level @ 1.0033.
2nd support @ 1.0040 should have seen the AUD continue upwards, as part of a move towards the Weekly highs.
Instead it failed, and has seen the AUD move back below the key levels in the market @ 1.0007
Based on the current price action in the market there’s, no probability pattern for Thursday other than trading the levels:- short-term ranges
Random support @ 99.33
Trend guide 50% level @ 9971.
AUD looks range bound once again during the month of January
Footnote:- "
****** China GDP and other China news out at 1.00pm , big news , which will effect the AUD in the short-term
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
