16th September 2011, Euro, AUD Daily

Euro weekly and Daily cycles

Euro has continued up into the Weekly 50% level and stalled.

these levels are seen as resistance, with the expectation that price will continue back down next week.

however, in the 12 hour patterns, Friday could push upwards.

if it does then Friday's highs are seen as resistance

AUD Weekly and Daily cycles

My view is that the weekly lows would form resistance and push the trend back down.

however, with Friday now above the 5-day 50% level that might not happen.
unless price is below the 12 hour 50% levels, then Friday could push upwards, with the 11am upper levels as random resistance.
and if above those levels, then AUD swing point is the next weekly level @ 1.0432














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