USD Index Report
USD index remains below the Yearly 50% level and 3-Quarterly 50% level ,as shown in the left chart.
In the right chart it remains above the 3-month 50% level and above the previous monthly high.
This could see next week rise up from support and move back upwards...
However, the 2 highest cycles (Primary and Secondary)are bearish, which could easily see the USD index come under pressure whilst currencies rise again the dollar
Euro monthly and WeeklyIs next week going to be a higher Weekly open and 'sells' down from the December 50% level as shown in the left chart....
or is the Euro going to continue to trend upwards over the next 5-days.
With the Euro breaking out of the 5-day highs on Friday...my hunch is that the Euro will continue upwards.
Trend guide the Weekly 50% level @ 1.3432
AUD WeeklyNovember's highs completed the 2 month wave pattern extension in the
4th Quarter resulting in a reversal down into the December 50% level...
If AUD is going to continue towards higher highs in 2011 and
follow an orderly pattern upwards:- December then January...
then any further gains will depend on next week's level @ 99.37.
There is a possibility that price revisits the Weekly 50% level, but because of Friday's breakout the expectation is that the AUD will continue to move upwards
GBP Monthly and Weekly
Same pattern as the Euro....
any further gains will depend on the December 50% level as shown in left chart @ 1.5792
