USD Index Monthly and Weekly
Because the USD index is trading below the Yearly 50% level, my view is that next week should continue down from resistance levels (February 50% level)...
Whilst currencies continue higher.
Note:- if the USD Index is above the Weekly 50% level and monthly 50% level, the trend bias is to follow a double Weekly high pattern.
Euro Monthly and Weekly
The euro completed a double Weekly high pattern this week, and has reverse back down into the monthly 50% level.
The Weekly timeframe has now moved into February, which aligns with a lower weekly open, and at this stage it is seen as support.
Therefore the weekly 50% level is seen as the trend guide, for a swing back towards the Weekly level @ 1.3780, and then a continuation towards the highs.
Below the monthly 50% level, and it's seen as a push back down (random pattern)
However, I continue to be bullish on the euro, as price is above the Yearly 50% level.
AUD Monthly and Weekly
My view is that the AUD is heading towards the 2011 highs & 1.06
with the medium-term target being the February highs, and then towards the March highs, as part of a 2-month wave pattern upwards during this quarterly cycle.
Next week's level is the trend guide @ 1.0117...
as it continues towards the Weekly highs
Note;- if below, we could see a similar pattern as the euro, and a rotation back down to the February 50% level.
