USD Index Monthly and Weekly
My View on the USD index is that this reversal down into the 3-week lows is going to set-up a move back towards higher highs in July.
That means the first sign has Friday closing above the lows and now we need to see price back above the Weekly 50% level (next week).
If that happens then this is going to push the likes of Euro back down into lower lows in July.
If USD index is trading below the 3-week lows, then that entire view won't play out.
Euro Monthly and WeeklyIf USD Index goes up then Euro goes down, but at this stage there isn't a high probability short-trade based on the current patterns.
I would keep an eye on the USD index and if it finds support and begins rising next week, then we focus on short trade set-ups in the 5-day pattern.
Otherwise the euro continues up towards the June 50% level and then the 3-quarter 50% level.
GBP Monthly and Weekly
At this stage there is nothing bearish in the GBP until it is trading back below the June 50% level and White level @ 1.4756.
otherwise it is following the weekly range upwards over the next 2-weeks.
Again the GBP will be influenced by the USD index.
AUD Monthly and Weekly
USD index doesn't influence the AUD.
Therefore the bias is to continue upwards over the next 2-weeks.
Random resistance Weekly highs in the early part of the week.
Support:- June 50% level & 8587
