USD Monthly and WeeklyExpectation that USD Index would continue up has failed as the Weekly 50% level rejected the up trend and price is below the 3-month 50% level
The Reversal pattern is also occuring from the Yearly highs in 2010.
There is still the possibility that the UP trend might occur, but it will only occur once the current Weekly timeframe ends and next week is supported above the 3-month 50% level in the new Quarter.
otherwise price is heading back down into the Yearly 50% level.
Euro Monthly and Weekly
Next week's highs and the July 50% level is the critical pattern on whether the Euro continues down or not.
There is a breakout of the previous Quarterly lows and a swing back towards the new Quarterly 50% level, which on most occassions will send the market back down during the current Quarter.
Let Friday trade out and see where the Weekly timeframe closes in relation to the July 50% levels.
AUD Weekly and 5-day pattern
No probability pattern as the AUD looks to be closing in the middle of the monthly 50% level in july.
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
