USD Index Monthly and Weekly cycles
US dollar looks to be moving higher in the short-term, as long as it remains above the Weekly 50% level.
If that ocurrs then this will put pressure on currencies at the start of the week
Euro Monthly and Weekly
The Euro could move back towards the Weekly 50% level at the start of the Week...
however, my view is that the Euro will move down into the Support levels @ 1.41130.
That level is critical, as it's the 3rd Quarterly 50% level, and also the single monthly lows
AUD Monthly and Weekly
The Trend bias is to continue higher, with an overall target @ 1.17.
However, the higher step formation in the monthly cycles is a concern in the AUD....
normally these steps form support for the first 5-days, but then often break and move lower in the following week
In conclusion:- the Trend bias is to continue upwards....
But at the same time we look for set-ups in the daily range for 'shorts', that could lead to the AUD moving back down towards 3rd Quarter support @ 1.0250
