Euro Weekly and Daily
I'm bullish on the USD therefore I'm bearish on the Euro..
but for both they need to breakout of their Weekly highs and lows.
In conclusion:- the trend bias is to continue lower, but I'm not sure that the Euro will breakout, as Wednesdays' lows and the Weekly lows could once again form a support level.
If a breakout occurs, then the 2nd 12 hour range will form resistance at the Daily and Weekly lows, and continue to extend lower into Thursday.
AUD Weekly and Daily range
Trade on the side of the Weekly level and 5-day 50% level.
It's either going to continue lower...
or remain choppy inside for the first 12 hours.
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
