USD index
You know my view on the USD index...
it is either going to reverse down next week and begin the next drop into November's lows starting from Monday...
or there could be a slight push upwards into next week's highs.
Everything points to a bearish pattern unfolding using the past to predict the future.
However, as pointed out in the most recent book and in the Forex section....
this price action often looks like it is setting up for the next leg downward only the see the following week move into a higher weekly close changing the entire quarterly cycle from bearish into bullish.
Euro Monthly and Weekly
If the Euro is going to follow a bullish pattern then it's going to move up on Monday and then continue towards the November highs using the November 50% level as support.
We don't want to see the euro trading below 1.3633 next week
AUD monthly and Weekly
looks to be moving down towards the November 50% level as shown in the left chart...
However, the AUD can also remain within the weekly levels and move into a consolidation pattern for the rest of the Quarter.
Note:- there is a breakout of the 5-day lows on Friday...
therefore there is the view the AUD is moving down into .9763
GBP Monthly and Weekly
Hard to find a bullish set-up on the GBP at this stage without testing the 3-week lows...
but it will follow the price action of the USD Index
