Euro Weekly and Daily cycles
Today's trading is based on whether the Euro will move down again, using the March 50% level and 5- day 5% level towards the Weekly lows...
or potentially breaks above.
I would play resistance, and adjust if wrong
AUD Weekly and daily cycles
March 50% level Support, along with the completion of the break and extend pattern in the Weekly cycle (Weekly low support)
if it's going to continue higher, then it needs to break above the 5-day 50% level and 12 hour channel.
Note:- it's currently trading below the single monthly lows @ 1.0578, therefore it may remain below this for a number of days.
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
