Euro Weekly and Daily cycles
Monday breakout and above the Weekly level should continue up into the daily and Weekly highs on Tuesday.
Therefore the Weekly level and 12 hour 50% levels are seen as support,
whilst the highs are seen as resistance.
AUD Weekly and Daily cycles
January highs are the target @ 1.07
however, with the AUD trading around the Weekly highs, it's not a forgone conclusion.
currently there is a Monday high breakout, the 12 hour 50% level (white & Blue)...
will determine whether the trend moves up into Tuesday's highs and beyond.
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
