USD Index
3-month 50% level support with an expectation that the trends is heading back towards the highs, which should then put pressure on currencies.
Euro monthly and WeeklyWith the euro failing to move towards the 3-month 50% level it makes it hard to have the view that the trend will continue down next week.
It will if it's below the Weekly 50% level....
but it could also consolidate until MAY, and then the 3-month 50% level in MAY becomes the trend guide for the next move down.
GBP monthly and Weekly
Whereas the GBP is providing a far more robust set-up to complete the move down into 1.4544 during MAY.
AUD Monthly and Weekly
My view has been a move towards the quarterly highs....
however it has always been related to the 3-month 50% level, and this might occur in MAY.
In the short-term the trend guide is the Weekly 50% level.
And a lower weekly open and above the Weekly 50% level could see a swing back towards the April highs once again.
Daily reports out on Monday
