Euro Weekly and Daily
Euro trading between the December lows, and likely to trade between the 12 hour channels on Friday.
Because of the current price action, there is an expectation that the trend will continue to extend towards the January lows in the first Quarter.
In the medium term, we should begin to look for patterns that are going to move upwards & retest this week's breakout low. (next week)
However, I can't see that happening today.
AUD Weekly and Daily cycles
Looks to be moving towards the Daily and Weekly lows on friday
using the 12 hour channel lows as a trend guide. @ 9923
However, if above, then Friday is moving back towards the 5-day 50% level (random resistance)...
along with the weekly 50% level (random resistance)
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
