Euro Weekly and Daily cycles
$64 dollar question....
Is the Euro going to continue higher this week??, or is the February 50% level going to push it back down??
at this stage i'm not sure...
if it's going higher, then the 12 hour channels (white) is the trend guide:- random resistance Thursday's highs.
And anything below the 5-day 50% level is a sing of weakness
Random support white channel lows
AUD Weekly and Daily cycles
AUD completing the break and extend pattern, after finding support this week. Primary trend suggests a move towards $1.12 in 2012...
However, these upper levels in February will begin to form resistance zones in the 1st quarter
Too early to tell when it will happen, but my view is that price will revisit the Monthly 50% levels during this current Quarter, or the next before it completes the move towards 1.12.
Current monthly 50% levels reside around $1.03.
first sign of a rotation down will be price trading back inside the 'Dynamic' Weekly cycle levels (white)
Today:- Random resistance Thursday's highs
Random support the 5-day 50% levels
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
