USD Index Yearly and Monthly1 monthly left in 2009 and we need to keep in mind that the USD index is either going to continue down into the Yearly lows and December lows....
or Swing back upwards and move towards the Yearly 50% level in 2010.
That up mvoe is going to be dependant on the break of the 3-week highs and also the December 50% level.
I do favour that happening because I'm expecting the US equity markets to reverse down from these highs, as per US Index Weekly report
AUD monthly and Weekly
If that's the case we need to be focusing on shorting currencies using the levels in the market.
December starts on Tuesday but the Weekly timeframe won't until the following week, so there is still a possibility that next week can move upwards or remain in a sideways pattern.
Notice how each move begins around the red 50% level at the start of the month, but that won't be until the following week, and the 5-day therefater ends up a trending week.
Short-term:- with Monday opening below the Weekly 50% level I have to favour a push down (random pattern)
Any pullbacks are towards the December lows.
Monthly and Weekly
short-term the Weekly 50% level is the trend guide @ 1.4977.
any break of the 3-week lows and price is pulling back into the December lows @ 1.4417
GBP Monthly and Weekly
once again the best set-up on GBP will be the week after using the red monthly balance point as the trend guide.
Short-term:- weekly 50% level the trend guide.
