USD Index Monthly and Weekly
The USD index started the Primary cycle below the Yearly 50% level, whilst currencies started above theirs.
But over the past 5-days that has quickly changed.
The USD index is now above the Yearly 50% level @ 80.90....
This trend could continue to trend upwards and breakout of the January highs, and then continue for the next 3 months until the start of the next Quarter
or it could be a fake move... with next week's highs and the January 50% level sending the USD index back down.
At this stage I don't know what will happen until it happens, but I don't have a 'thrust pattern' set-up that suggests that the trend will breakout.
Thrust patterns normally occur when the 3-Quarter 50% level or 3-month 50% level aligns with the single monthly pivot...
at this stage price is simply moving back into the 3-Quarterly, and not away from that level.
Euro Monthly and Weekly
Breakout of the Weekly lows can continue to extend down towards next week's lows...
but whilst the market remains below the 3-Quarterly 50% level @ 1.3180 the trend can continue down towards the first quarterly lows.
Random support @ 1.2880
AUD monthly and WeeklyMy view is that the AUD will continue higher during 2011, but in the short-term it is moving down and likely to follow the Weekly low pattern towards .9827
Trend guide for the rest of this Quarter is the January 50% level @ 1.0007.
And we focus on the patterns within the 5-day range and 12 hour levels.
