USD Index Work out what the S&P 500 is going to do and you can often do the opposite in Currencies.
S&P 500 hasn't closed below the 3-week lows and the USD hasn't closed above the 3-week highs, therefore November can continue to consolidate and move.
Based on Friday's close and October, it's hard to have a concrete conclusion that the dollar will continue to rise and the S&P continue down.
AUD monthly and Weekly
October closes above Ocrober highs, and November will be opening around the Weekly 50% level and a lower weekly open, which could see the AUD back around the Weekly highs by Friday.
Monday opens below support, and there could be another weekly timeframe that trends down.
Based on current price action the latter isn't a probability.
monday's 5-day patterns will give a much clearer view on direction next week.
Euro and Weekly
3-week low support would need to be above the Weekly 50% level can see a swing up towards the weekly highs again.
Would nned to see a weekly HOOK pattern ( Daily close above the weekly 50% level and 5-day 50% level on the same day)
Breaks 3-week lows can see the Euro trend down all week.
GBP Monthly and Weekly
As per my view a couple of weeks ago, if GBP can consolidate above the monthly 50% level it is more likely to continue higher next month.
Support 1.6398
target Weekly highs and November highs
don't trade longs below 1.6282
