Euro Weekly and Daily range
The Question remains.... is the Euro rising up from the MAY 50% level..
or ,is it following the trend down into the Weekly lows.
If we look at Monday's price action and the 12 hour patterns on Tuesday, it favours a move upwards.
The channels match the Weekly level @ 1.43320.
the initial move will be to the channel highs, and then towards the 5-day 50% level after 11pm.
I could be wrong, therefore don't trade longs below 1.4332
AUD Weekly and 5-day range
The trend bias is up towards the Weekly highs...
However, Tuesday is opening around the channel highs, which also align with the R84 spiral highs, and that makes it hard to BUY the AUD..
Trend guide 1.0792-98
Personally I would wait until the AUD matches the 2nd 12 hour support zones, which are currently around 1.0707 to 1.0678
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
