Euro Weekly and Daily cycles
As long as the Euro is above the monthly 50% level the trend bias is up.
However, it will need to breakout of Monday's highs and the Weekly 50% level for that to happen....(random resistance)
12 hour support as shown within the daily channel 50% levels
AUD Weekly and Daily cycles
The same applies with the AUD...
if above the single monthly lows @ 1.0578 the trend bias is UP...
however, the Weekly 50% level and Monday's highs need to breakout (random resistance)
Trailing support:- the 12 hour 50% levels and white channel highs
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
