Euro Weekly and Daily cycles
euro continues to trade below the 3rd Quarter 50% level.
5-day lows on Thursday has caught up with price, and this level is either going to push it upwards for the rest of the week...
or it's going to break, and continue down in the 2nd 12 hour cycle towards lower lows on Friday.
AUD Weekly and Daily cycles
Weekly cycles suggest weakness down towards the Weekly 50% level
if that's going to happen then the 5-day 50% level and 12 hour channels will form resistance.
However, after rising up from the September 50% level the monthly cycles suggest further gains,
that's not going to happen unless it's above those same daily levels
.- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
