Euro Weekly and 5-day range
After yesterday's failure to remain above the Weekly level @ 1.3375 after bouncing off the first 12 hour support level (brown filter), it now looks like this week is moving into another 5-day consolidation pattern.
there's no probability pattern for today's trading.
either the euro remains within the white channels (above the 5-day 50% level)...
or the trend continues down towards the Weekly lows this week.
random support (weekly 50% level)
AUD Weekly and 5-day range
AUD is either going to move into a 12 hour consolidation pattern above the brown filter and below the 5-day 50% level (resistance)...
or it's going to continue down into the Weekly 50% level and January's 50% level @ 1.0007.
this level is a major support zone for this quarter, with an expectation that the trend is moving towards the quarterly highs.
(Note: it would not surprise me to see a quick move down into the Weekly lows, and if the trend is going to continue higher, it would be from next week, using next week's open and 1.007 as the trend guide
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
