Euro Weekly and Daily
last week of April and coming into the start of MAY (next week)
therefore, this week is about whether the trend continues towards the Weekly highs, and then towards the MAY highs next week...
or there's a reversal down into the last week of the month.
Trend guide remains the upper weekly level @ 1.4541-45
Currently the Euro is swinging around in 85 pip ranges, but to confirm weakness, there needs to be a 4 hour close below the 5-day 50% level and channel lows (support)
Note:- Euro continues to trade around the 2011 highs, therefore there's a lot of resistance around these highs 1.0631
AUD Weekly and Daily range
The same applies on the AUD...
either is remains above the 2011 highs @ 1.0612 and continues towards the weekly highs, and then the MAY highs
Trend guide and support @ 1.0664
or it reverses down helped by a 4hour close below support levels (Trend guide & 5-day 50% level)
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
