Euro Weekly and Daily cycles
Breakout of Thursday's lows should extend down into Friday's lows, matched with the Weekly 50% level :- Random support
5-day 50% level and 12 hour 50% levels:- Resistance.
Note:- overall trend bias is to retest the Weekly lows by next week
AUD Weekly and Daily cycles
5-day 50% resistance
Friday's lows random support.
Keep in mind that price has been rejected down from the Yearly 50% level.
if price breakouts of the 5-day lows during the first 12 hours, then it can extend lower in the 2nd 12 hours, using the 5-day lows as resistance
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
