Euro Weekly and Daily
Monthly 50% level rejection pattern from the August 50% level could see the trend continue down into the Weekly lows
That would need to be verified by a 5-day low breakout on Wednesday, and a 2nd 12 hour downward trend
otherwise, there could be a 11am upward trend to retest the 5-day 50% level (11am highs-resistance)
AUD Weekly and Daily
I was looking for short-term 11am weakness yesterday, but I wasn't expecting a potential reversal towards the 3-week lows.
Breakout of the 5-day lows on Tuesday didn't allow a retest of the 5-day lows in the 2nd 12 hour range to get back into the trend..
and by the look of the current price action, the trend is likely to continue down into Wednesday's lows
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
