USD Monthly and WeeklyAs noted last week, there is a possible collapse in the USD dollar occurring in the 3rd month of the 2nd Quarter.
The USD has two probable patterns over the next 5-days.
#1) continues to trend down into the June lows
#2) finds support on the Quarterly level (yellow) and then swings back into the June 50% level, which is seen as resistance.
Euro Weekly and Daily
Therefore there are two probable patterns in the Euro...
#1) continues to trend towards the June highs
#2) reaches the Weekly highs, but then reverses back down to retest this week's breakout...
and then continues higher later in the week.
AUD Weekly and Daily range AUD is slightly harder to read in the short-term.
long term the trend bias is up towards 1.17, as long as it remains above the monthly 50% levels.
Short-term;- because of Friday's 5-day high, next week could begin with a 2-day reversal pattern
If below the Weekly 50% level, the trend bias is to retest the June 50% level before a potential move towards higher highs later in the month.
