Euro Weekly and Daily cycles
As with yesterday, it's hard to tell whether the Euro will continue lower, or the Weekly level @ 1.2934 will act as support.
if it's going to continue lower, then the 5-day 50% level and 12 hour channel will send it down into Thursday's lows and then towards a lower Friday close (Weekly lows)
Trend guide 5-day 50% level
AUD Weekly and Daily cycles
Weekly highs are forming support, and based on the current price action, my view is that the trend will remain above this level and extend towards new Weekly highs next week.
trend guide the 12 hour channels
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
