USD Index
After last week's 2-day reversal down breaking support and not going lower, the USD index is now consolidating above the 3-Quarter 50% level & there is a breakout of January's highs.
This leads me to think that the USD index will continue upwards for the rest of this Quarter, or at least remain above these support levels.
In the short-term until March begins it looks like price will continue to consolidate above these levels.
AUD Monthly and WeeklyAUD looks supported, but at this stage I think AUD will remain within it's 5-day range patterns until March:- Between Weekly highs and Monthly 50% levels.
Euro Monthly and Weekly
If there is a bias to continue higher in the USD Index, then there is a bias to continue down in the Euro, which is also trading below the Yearly 50% level.
At this stage I feel February will continue to swing trade within the 5-day range until March and then mostl likely push down towards the 3-Quarter lows (Yellow).
GBP Monthly and Weekly
GBP completes the double low pattern in February, and there is going to be a bias coming into the end of this month that it will try and rise back towards the Monthly 50% level.
That can either be the 3-month 50% level or the single month 50% level (red).
If it struggles to move higher than the red it's probably going to continue down in March.
Note:- it may remain within the 3-month channels in March, but it could also trend down in March towards the 3-Quarter lows (Yellow channels)
