USD Dollar index.The expectation is that the USD Index should continue towards the January highs by next week, and possibly $80.00 in early February.
Weekly 50% level support
AUD Monthly and Weekly
AUD is trading around the 3-month 50% level in January.
These levels are robust support zones and then next major move might not happen until the start of February
Next week’s 50% levels will be the trend guides.
A lower Weekly open can start with a 2-day UP move:- random length using support.
If Tuesday 'HOOK's above the 3-week 50% level (Green) then that could lead into a higher Weekly close.
If the first 1-2 days fail to trade above the 3-week 50% level, then that could be a 2-day up move and then the trend continues down.
Below those 3-month 50% levels and AUD will be heading down towards the January lows and probably down into $ 84.40 in February (matching 3- Quarter 50% level)
Euro Monthly and Weekly
Major support, but it might not have a complete reversal upwards until February.
As there might be a Double monthly low in February.
There’s a breakout of the Weekly lows, and in the short-term I’m expecting price to remain within those Weekly lows and the Weekly 50% level over the next 5-days.
Weekly 50 % level resistance whilst the USD Index goes higher.
GBP Monthly and WeeklyAt this stage I favour a continuation down into the Weekly lows, whilst below the Jan 50% level @ 1.6260
Weekly lows match the 3-Quarter 50% level:- robust support.
