USD Index:- Monthly and Weekly
Remains range trading between higher timeframe monthly levels, and may continue to do so next week, if it remains between the weekly levels.
That will effect the trends in currencies like the Euro.
If the USD follows the trend and breaks the Quarterly support (Yellow) then the USD Index will continue to trend down into February's lows, whilst the Euro continues higher.
Euro Monthly and WeeklyThe Euro has continued into a higher Weekly close, helped by the breakout of Friday's highs.
This should see the Euro continue towards next week's highs, with random resistance @ 1.3766.
Support:- Weekly and monthly 50% level, if there is any minor weakness early next week.
We just have to look for patterns that favour more upside during the current Quarter (towards the highs) using the levels in the Daily range towards the single month highs @ 1.3935
AUD Monthly and WeeklyHigher high by Friday using the Weekly HOOK pattern should continue to trend up towards next week's highs.
However, Friday's 5-day high formed resistance, and that may see a minor reversal of 2-days early next week.
If that's the case, then the Weekly 50% level is used as support for another 5-day pattern that continues upwards.
