EURO Weekly and Daily cycles
Whilst below the April 50% level and now Weekly level @ 1.0391 the trend bias is weak.
However, Monday's lows and also the single monthly lows could form another support zone and more consolidating
If looking to trade longs today I would focus on the lesser ranges of .41 pips during the first 12 hours,
AUD Weekly and Daily cycles
My view is UP, but not whilst it's below the Weekly 50% level.
Keep an eye on 12 hour support, and then trading above the Weekly 50% level after 11am today.
Otherwise, a break of 12 hour support, could see the AUD back down into the recent lows once again.
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
