Euro Weekly & Daily cycle
5-day 50% level is the trend guide
whilst the Weekly 50% level is a random resistance zone
trend bias is to move down towards the Weekly lows
AUD Weekly and Daily cycles
Daily cycles suggests downward, as speculation grows that there will be a rate cut tomorrow...
However, the Weekly 50% level is a random support zone, & if there's a 4 hour close above the 5-day 50% level, price could go looking for the 12 hour channel highs (monday's highs)
or the November 50% level (RESISTANCE) 1.0380
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
