Euro Weekly and 5-day rangeI would have thought that the euro would have continued higher in the 2nd 12 hour pattern on Thursday, but it failed, and it is now trading below the Weekly level once again.
the Euro could continue up into into Friday's highs, whilst it's above the 11am level after testing support in the 2nd 12 hours
But it could also fail and move down into the Weekly lows if it's below the 5-day 50% level.
AUD Weekly and 5-day range
AUD rising up, but it remains in a tight range.
Friday looks to be moving upwards, but once again there is a 84 spiral top that aligns with the channel highs.
if it continues up early (first 12 hours) then it's seen as resistance.
If the trend moves down into support levels (channel lows)...
then there's more reason to rise up towards Friday's highs late and continue up towards the Weekly 50% level.
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
