Euro Weekly and Daily cycles
single monthly low support and 11pm support pattern has pushed to Euro higher.
It now looks like it will continue up towards the MARCH 50% level:- random resistance (Friday's highs)...
using the 5-day 50% level as the trend guide
if it dips down today, then the Weekly lows are seen as support @ 1.3039
AUD Weekly and Daily cycles
AUD failed to continue down with Wednesday's breakout of the Weekly lows...
if now looks like Friday will continue upwards using the 5-day 50% level as the trend guide.
There are two patterns at play...
#1) AUD continues to remain below the single monthy lows, and Friday remains choppy within the 12 hour range.
#2) Fake break of the Weekly lows and Friday trends upwards:- Friday high breakout.
Note:- Monthly lows @ 1.0578 and Friday's highs are random resistance zones
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
