Euro Weekly & Daily cycles
The Euro is right on Support, and will be extremely bearish if Tuesday closes below the Weekly lows and November 50% level.
However, if it decides to rise upwards it might not be until the 2nd 12 hour pattern, as the daily channels aren't providing bullish leads at this stage
AUD Weekly and Daily cycles
Speculation is that the Reserve bank will cut rates today...
if that's the case, then the November 50% level is seen as RESISTANCe @ 1.0382
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
