25th October 2012 Euro & AUD Daily report

Euro Weekly and Daily cycles

Wednesday's support off the daily lows, and whilst price is above the Weekly 50% level the trend could rise upwards again...

However, at this stage the daily cycles aren't providing a bullish set-up for that to happen early on Thursday

AUD Weekly and Daily cycles

I was expecting the same pattern in the AUD as the Euro (Wednesday lows support)

Today

Daily cycles favour  more upside using the 50% level as support

Whilst the October 50% level @ 1.0362 could push price back down into 1.0340 (random Support)

Use the daily levels as trend guides today