Euro Weekly and Daily range
Monday didn't continue down into the Daily lows, instead it moved upwards, topping out at the r84 high and once again moving into a rotation pattern of 84 pips.
The trend bais is down, if we follow the larger timeframe cycles and weekly patterns...
However, on Tuesday there's isn't any ideal set-up to trade during the first 12 hour period.
Random pattern using the white channels as trend guides:- Resistance @ the 5-day 50% level @ 1.4220
AUD Weekly and daily range
11pm up move lasted 84 pips, but the important pattern is it is back above the MAY 50% level and Weekly level.
That level is the critical support on the AUD today, along with the channels...
Support 1.0551
don't trade longs below 1.0549
Note:- AUD is trading below the Yearly highs @ 1.0612, that could continue to resist the trend from rising
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
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