Euro Weekly and daily range.
As per Weekly report, the key levels are based on the February 50% level in the monthly chart @ 1.3514 & and the Weekly level @ 1.3595.
We are filtering the price action using the levels in the 12-hour ranges.
Starting with the brown filter @ 1.3595
My view is that the Euro will try and move upwards, however based on Monday’s level, which matches the Weekly 50% level, the Euro will try and push down towards Monday’s lows.
Note:- Monday’s lows match the Monthly 50% level @ 1.3514...
Therefore the 12 hour pattern needs to find support and then the following 12 hour pattern should provide a set-up for a move upwards...
Otherwise Don’t trade longs below 1.3498. (breakout), which could see more weakness down into the Weekly levels @ 1.34420
AUD Weekly and daily range
Expectation that AUD is continuing upwards, whilst above 1.0117:- Weekly highs then Monthly highs.
However, whilst AUD is currently below the brown filter I would think AUD will push back down into the weekly level, and as far as support @ 1.0101
if above the brown filter, it moves into 12 hour resistance around the highs.
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
