19th MAY 2011 Euro, AUD Daily report

Euro Weekly and 5-day range

Euro moved down into support levels on Wednesday, providing a 84 pip reversal pattern upwards...

once again I don't know whether the Euro will continue higher...

or the Weekly level @ 1.4299 pushes the trend back down in..

no probability pattern for Thursday




AUD Weekly and daily range


Early rise upwards on Wednesday only lasted 41 pips, before weakness (84 pip reversal) back down into higher timeframe support levels (MAY 50% level).


Based on the current price action, I still favour a move up towards the Weekly 50% level

11am support based on the 5-day 50% level and channel highs





  • All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT


  • Exact levels shown for current day aren't confirmed until midnight GMT
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