2nd March 2011, EUR, AUD, Daily

Euro Weekly and Daily range

As mentioned in the weekly report... 1.3766 is the critical level on the Euro.

This will see the Euro either continue higher this week...

or there's a possible reversal back down into the Weekly 50% level, and then down into the support levels.

Today:- Wednesday's channel lows @ 1.3755-66 will give all of us an idea of whether the market will continue higher or not.

The first 12 hours doesn't support a trending day upwards....

AUD Weekly and daily

AUD looks to be moving down into the 5-day 50% level and 12 hour channel lows.
first 12 hours doesn't provide an ideal set-up for a trending day upwards

With the price action in Weekly charts suggesting resistance and more weakness...
don't trade longs below the 5-day 50% level @ 1.0112








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