USD Monthly and Weekly cycles
USD dollar strength has once again failed to rise beyond the Quarterly level.
I still have the view that the USD dollar will continue to rise, however, the USD stalled at Friday's 5-day highs. This may result in next week beginning with a 2-day stall/reversal pattern.
There are two plays for the last week of the Quarter....
#1) 2-day reversal and then the USD dollar continues up towards next week's highs, and then the 3rd Quarterly 50% level from July
#2)...2-day stall and then a choppy 5-day pattern, but continues down into the 3rd Quarter trend guide in July before it continues higher.
Euro Monthly and WeeklyIf there is a 2-day stall/reversal then the euro is likely to rise back towards the Weekly 50% level, using the Weekly level @ 1.41810.
However, the Euro is likely to continue down into the single monthly lows @ 1.4029, which aligns with the 3rd Quarterly 50% level (yellow)
AUD Monthly & Weekly level
AUD is likely to find support using the Weekly and Monthly levels:- 2-day rise
However, if the USD continues to rise, there are a number of quarterly 50% levels that the AUD will be attracted to:- namely the 3rd Quarterly 50% level. (yellow)
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
