Euro Weekly & Daily cycles
Conflicting patterns in the Euro, as the overall trend remains below the MARCH 50% level, but remaining within the Weekly levels.
If the Euro is going to continue lower, it needs to be trading below Wednesday's lows...
otherwise the 11am levels could see price rise into the 5-day 50% level (resistance)
AUD Weekly and Daily cycles
My view is that the Weekly lows will act as resistance and push price down towards the March 50% level & Thursday's lows (random Support)
The 11am levels will be the trend guide on whether that happens early today, otherwise the 11am levels can push price up into the 5-day 50% level (Resistance).
Note:- if the AUD is trading above the 5-day 50% level, then this week could be a 'FAKE' break pattern, which results in the next 2-days rising back towards the Weekly 50% level.
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
