USD Index Monthly and WeeklyWhilst price is still above these higher timeframe 50% levels, the expectation is that the trend will continue towards the January highs, putting pressure on the Euro and GBP.
However, I did expect a higher friday close when Thursday had closed above the 5-day 50% level.
Therefore, whilst price is below the Yearly 50% level, the reversal pattern up in the 4th Quarter will be bearish again on breaking the 3-month 50% levels again.
Whilst the Euro and GBP are above their Yearly 50% levels.
AUD monthly and WeeklyNormal price action is to expect a Weekly trend to continue away from the higher timeframe 50% level and close near its highs on Friday.
However, at the start of the week I did expect it to be down, because that's where December had closed (below those 50% levels)
AUD 5-day patternBut a breakout of the 5-day high on Monday told me straight away I was wrong, and it took until Friday to retest the 5-day 50% level.
Daily report out Monday
Euro Monthly and WeeklyThere is still the expectation of a move downward, as long as price remains below the 50% levels.
Need to keep in mind that the euro is still above the 3- Yearly 50% level 1.4230, and could remain in a consolidating pattern for awhile.
Daily report out on Monday.
GBP monthly and WeeklyWeekly 50% level is the trend guide for next week.
GBP is trading above a number of higher timeframe 50% levels (Yearly 50% level and 3-Quarter 50% level).
But below the lesser timeframe 50% levels
