USD Monthly and Weekly
There's always an expectation that when price reaches a higher timeframe 50% level the market will thrust away and continue with the trend.
When it doesn't often the market will begin to move into a consolidation pattern (sideways) for a number of weeks.
I expected USD to find support and close much higher.
Therefore, even though it's found support, it might take until the last week of the month or early February to get the next short-term (5-day) trending pattern.
AUD Monthly and WeeklyI would like to see AUD continue towards the January highs.
Daily report out on Monday.
Euro Monthly and Weekly
Resistance @ the 3-month 50% levels but it took until Friday's break of the 5-day 50% level to confirm the reversal pattern.
However, based on the current price action and where it's occurring, it looks like this month is a sideways pattern for a number of weeks, but with a downward bias.
At this stage I would simply look for short-term R85 point movements within the 5-day range.
GBP slightly more bullish than the Euro, as it's trading above the Monthly 50% levels.
Things can quickly change, but I would treat GBP as range trading between the Weekly channels, and look for patterns in the 5-day range.
Daily Reports out on Monday.
NOTE:- If US equity Index markets continue down drop early next week, that will probably send the USD upwards and currencies lower.
