USD index has decided to push upward and close on it highs around the key resistance levels in November.
If the trend is going to go down it look more likely to happen from next week’s open and resistance.
Euro Weekly and 5-day pattern
Yesterday’s view was that Wednesday had found support and price would swing back towards the Weekly 50% level using 1.3752 as support and the trend guide.
However, that failed and the current price action in the Euro looks weak.
At this stage I can’t be bullish again on the euro unless Friday holds support (5-day lows)
Because at this stage we have price trading below key levels (3-week lows)
As per previous Weekly report….(monthly chart)
The KEY support level is 1.3633
AUD Weekly and 5-day pattern.
Same expectation on the AUD using 1.0031-38 as support, but the monthly highs is driving the AUD lower towards a lower Weekly close.
And any further weakness on the AUD is towards Friday’s lows ..9919
There are two possible patterns using the monthly chart in the Weekly report as a trend guide…
Friday’s lows hold support and next week begins the next leg upwards using .9961 the monthly trend guide.
Or Friday breaks out and continue to trend downward into the November 50% level @ 97.04 (next Week)
Minor trend guides on Friday @ .9986
