USD Index Primary and Monthly cycles
no lead in the USD index ,as the trend is caught between a number of timeframe levels.
This could continue for the next few weeks, until it gets closer to the end of the quarter....
when the trend decides whether it will continue to extend downward, or rotate upwards and go looking for the 2012 Yearly 50% level.
Euro Monthly and Weekly cycles
Euro looks supported, but it could continue to remain in a tight trading range until breaks out of the Weekly range, and that might not happen until September.
I'd continue to look for short-term patterns within the 12 hour ranges.
AUD Monthly and Weekly
AUD could follow the trend downward, but my hunch is that it will try and move upwards and retest the previous Weekly breakout @ 1.0590, and Weekly 50% level...
it could even go as high as the August 50% level.
however, once it moves towards those levels, we look for shorts once again.
