Euro Weekly and Daily cycles
The Euro has reached the Weekly lows and also the Yearly lows @ 1.2546.
Now we begin to look to see if the trend is going to swing upwards, as part of rotating back towards the next monthly 50% levels in June.
So far the Daily cycles aren't providing an ideal confirming pattern
AUD Weekly and Daily cycles
Weekly low support, and the rest of this week is based on whether the trend begins to rotate upwards
as part of moving towards the following monthly 50% levels.
or whether the trend resumes its downward path towards the Quarterly & Yearly lows @ .9464
The Daily cycles suggest more weakness into Thursday's lows
But I would also keep an eye on 12 hour channels for a possible rise.
Random Resistance the 5-day 50% level at 11am
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
