Euro Weekly and Daily cycles
First day of the month, and the Euro's trend is guided by the Weekly level matched with the new monthly 50% level in MAY
Daily cycles aren't providing any clues in which direction it will go, other than remaining above the 5-day 50% level
AUD Weekly and Daily cycles
The higher timeframe levels aren't helping the AUD continue higher, as seen with Monday's trading.
As per Weekly Report, my view is that the AUD will continue higher, however, that will depend upon today's rate announcement at 14:30...
until then it might continue to slip back towards the daily levels, (5-day 50% level & 12 hour channel lows)
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
