USD Monthly and WeeklyBreakout in MAY should continue to trend upwards into June's highs.
There was a minor Weekly high breakout the previous week and then a robust long set-up towards the Weekly highs this week using the Weekly 50%, whilst currencies continued to trend down.
Next Week:- could be a minor reversal down, but with a Friday high breakout (daily close above the 5-day highs), the Trend can continue upwards on Monday
Euro Monthly and Weekly
Whilst the USD Index was moving higher, the Euro was following the exact same pattern and trending downward, as the European Union falls to bits.
Previous Weekly low breakout and retest on Monday provided the ideal set-up for the trend to continue down into this week's lows.
At this stage the expectation is to continue towards the June lows with minor short-term swing patterns during the week using the Weekly 50% level as a trend guide (resistance)
GBP monthly and Weekly
Currently being supported at the 3-Quarter lows (Yellow), but a Weekly close below the MAY lows can see the trend continue down
Short- term is to continue down towards next week's lows
AUD Month and Weekly
Major support on the AUD at the Quarterly 50% level @ 87.66.
However,with the breakout of the previous week's lows I have the expectation that the trend is going to continue towards the Weekly lows this week or could take a couple of weeks.
Friday's sell day aligned with the 5-day 50% level and Weekly 50% level and resulted in a daily close below the 5-day lows, which should continue to push downward on Monday.
Daily reports out after 11am on Monday
