USD Index Quarterly and monthly
USD Index completes the swing into the Quarterly 50% level and also December's highs.
At this stage there is a 2-pattern play for 2010, either price hits ressitance and continues back down.
Or what may occur is price stalls and drifts lower and then continues towards the 2010 50% level.
Therefore the UP trend might come to a stop, and the down trend in currenices might come to a stop in the sohr-term but continue lower in the first quarter.
AUD monthly and WeeklyAUD has more to fall if it follow the December 50% level break and continuation down into 85.74
Euro Monthly and WeeklyEuro has hit December lows, and if this vaild support then Friday should stablise and then swing upwards next week.
for that UP move to occur I would let Friday close, and then use 1.4417 as support and a lower weekly open to get a swing back towards the Weekly 50% level, which will match the January 50% level.
If that occurs, then Euro could end with another leg down in the first quarter, which the USD index continues upwards.
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
