Euro Weekly and Daily cycles
Trend bias is to continue higher, but whether it breaks out of the Weekly & Daily highs is yet to be seen...
if it does, then the 2nd 12 hour channel & Friday's highs becomes support for an extension up into next week's highs
AUD Weekly and Daily cycles
AUD continues to remain above the single monthly high @ 1.0436, but it failed to continue higher on Thursday, as the Weekly levels stopped that from happening
whilst above 1.0436 the trend bias is up, but at this stage the daily cycles & 50% level could push the AUD down into Friday's lows
those lows are seen as SUPPORT
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
