USD Monthly and Weekly
Is the USD index going to continue back towards the Weekly highs, with a first target the 3-day cycle highs @ 81.06
or is Wednesday's reversal and retest of last week's breakout of the 3-day cycle lows going to send the USD dollar index lower, whilst currencies rise????
I ask these questions because I don't know the answers
Euro Weekly and Daily rangeWeekly level support @ 1. 3205, with the trend guide shown in the right chart.
for the Euro to move higher it will need to break the 5-day 50% level and also the channel high.
At this stage it's not a high probability it will do that, simply because the 5-day 50% level and blue channel high can send the Euro down in the 2nd 12 hours, as price is trading below the 3-month 50% level.
AUD Weekly and Daily
Similar pattern as the euro....
Weekly 50% level currently supporting price, and as per Weekly report my view is that the AUD is going higher....
Therefore the trend guide is 98.01
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
