25th Apriil 2012 Euro & AUD Daily reports

Euro Weekly and Daily cycles

if the Euro is going to continue higher, then 11am levels come into play.

Random resistance Wednesday's highs

Trailing support as shown

AUD Weekly and Daily cycles

the only way I could get bullish on again, is if the AUD forms a Weekly HOOK pattern. That is when price moves down into Tuesday's 5-day lows (support) and then closes higher:- above the 5-day 50% level and also the Weekly 50% level. if that's the case, then the rest of the week would normally close higher:- higher highs by Friday. (yesterday's report)


We nearly have the making of a Weekly HOOK pattern, we just don't have the confirming close above the 5-day 50% levels and Weekly 50% level.....

Therefore I can't be as bullish  (higher highs by Friday and then Monday next week) without that close.

However, the 5-day 50% level will now be the trend guide for Wednesday, and that continuation upwards might still happen.

• All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT

Exact levels shown for current day aren't confirmed until midnight GMT