Euro Weekly and Daily
Weekly level is the trend guide.
if it's going to swing up towards the Weekly 50% level, then it needs to be trading above the 5-day 50% level, which is seen as a random resistance level.
Below the 12 hour channels and Weekly level, trend bias is down into the Weekly lows.
AUD Weekly and Daily
Starting the new year Bullish, as it's being pushed up from the 2012 Yearly 50% level @ 1.0222..
This week's level @ 1.0256 is a random resistance zone, but the confirmation won't be known until price is below the 5-day 50% level and also the Yearly 50% level.
At this stage, the first week of the new year could continue to push higher.
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
