Euro Weekly and Daily range
Euro moving up into the MARCH highs, which match Friday's highs (random resistance).
There is a breakout of the Weekly highs this, and I would look for a continuation of the trend up towards next week's highs.
This could happen two way....
#1 Friday trends upwards and makes higher highs next week.
#2 Friday's highs stalls and we look for a 2-day reversal pattern into the Trailing weekly lows or 5-day lows, as support.
AUD Weekly and Daily range
I was looking for more gains on AUD on Thursday, but the upper levels stalled the market from rising.
We can see a tightening of the 5-day range, which could lead to trend moving down and testing the 5-day lows as support, as the next set-up for a potential move towards the MARCH highs.
Because of the brown filter, I don't have an ideal set-up for a trending day (UP).
Keep in mind that the AUD is trading above higher timeframe 50% level, therefore the expectation is to continue higher
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
