Euro Weekly and Daily cycles
Euro continues to be Supported above the March 50% level, but it remains choppy within the daily ranges....
each way bet on Friday's direction using the 5-day 50% level...
if it moves down, then Friday's lows and Weekly level @ 1.3100 is seen as support, for a potential rise upwards from a lower weekly open next week.
AUD Daily and Weekly cycles
AUD looks weak, as it's below a number of higher timeframe levels, and also a breakout of Thursday's lows.
based on these patterns, my view is that price will continue down into Friday's lows.
However, as we have seen over the past 2-weeks, the same breakout patterns have resulted in fake break patterns and the following day moves upwards.
Trend guide:- 5-day 50% level and 11am levels as resistance
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
