USD Index Monthly and Quarterly
Break and extend pattern in the 3rd Quarter (september lows) should continue down into Support and the October lows.
Around those lows are seen as a potential swing pattern back towards the 3-month 50% levels, using lesser timeframe patterns to validate the trend
Note:- the trend is below #6, which is also the Yearly 50% level.
Whilst below that level any potential up swing could see the trend continue lower using the 3-month 50% level as resistance and continue down towards the first Quarter lows in 2011.
Euro Monthly and Weekly
Same pattern but in reverse, as the Euro should continue to extend upwards into October's highs
Those highs will be seen as resistance with an expectation that the trend will reverse back down towards the 3-month 50% level later in the month of October.
The trend will most likely then continue higher only in November, using the 3-month 50% level as the trend guide.
GBP Monthly and Weekly
Same expectation as the euro
Random resistance around the weekly highs next week.
AUD Monthly and Weekly
completing the move into the Yearly highs @ 97.86
Break and extend pattern from September into October's highs.
We begin to look for the same rotating patterns downward later in October.
AUD Primary and Secondary cycles
2nd quarter sell off in the AUD down into the Yearly 50% level (#10)
3rd Quarter support and continuation of the up trend # 12…..
Resulted in a breakout pattern that should extend up into the October highs.
Note:- Yearly high completion target is 97.86, therefore AUD begins to hit higher timeframe resistance levels between 97.86 and the October highs.
Looking for a rotation back down towards 93.61 probably in the 3rd week of October.
If the AUD is going to continue higher thereafter will be from the November 50% levels towards higher highs in 2011 (Target unknown as yet)
If there is going to be higher highs in the 4th Quarter, then Validate the next UP leg using forward timeframe analysis and the November 50% levels and the primary cycle for 2011
