Euro Weekly and Daily cycles
As per Weekly report, my view is that the price action of the past 5-day days can lead to further weakness, because the Weekly range failed to breakout.
Therefore it's a simple case of trading on the side of the February 50% level
Weekly level @ 1.3253 is a random resistance zone
Weekly 50% level is a random support zone
AUD Weekly and Daily cycles
Friday's 5-day low breakout is often bearish:- Monday's lows the target and random support.
However, the Weekly 50% level could also support this week's open, resulting in a move back upwards.
However, the 11am levels (white channel lows) are seen as resistance zones in early trading
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
