21st MAY 2011, USD, EUR, AUD, Weekly
USD Monthly and Weekly
The US Dollar its looking likely it going to collapse in June and break the 2011 lows.
If next week begins to move down, then there is the possibility that could see the trend continue down in June and then extend towards lower lows in July, which will put the USD below 2011 lows, and then likely to extend lower in 2012.
If that occurs then currencies will continue to rise.
Euro Monthly and Weekly
The patterns in the Euro don't 'yet' provide clues that the Euro will trend higher, until it has broken out of the Weekly highs.
the ideal pattern would be to see the Euro test the single monthly low support in June, however if the next 5-days moves upwards then that won't happen.
Basically, any long set-ups from next week in the daily ranges we should look for 'hold' for breakout patterns.
looks far more bullish for a move towards 1.17+
Next week could remain within the Weekly ranges...
or trend over the next 5-days towards the monthly highs
once again we should look to hold 'long trades' within the daily ranges