€$ & USDX

OK, Here we are Friday morning after the euro held the RL from yesterday. I was somewhat premature in announcing the breakthrough and 1.3180 was an insufficient penetration of the r-line. Price rallied late yesterday and overnight and we find ourselves at levels of 1.3350.
What is obvious is that price is still stuck in the range i mentioned during the course of this week.
The DX failed to take out the CL of the blue fork and has collapsed back but price action is still in play in the black up-sloping fork and we are on the LMLP now which is a .618 Fib RT and €$ is at various CL's and UMLP's at 1.3350. One of those forks is a pink D/S fork drawn from obvious pivots & i have been watching this fork recently. What maybe of concern (to those who think the USD will rise) is that there has been no CL touch on this fork. Price is currently falling away from the pink UMLP ( shown in MT chart) but this is common for a first attempt. I expect to see the $ strengthen this morning from these levels but by how much is difficult to say. If the DX breaks down through the black LMLP and €$ rallies up through 1.3350 then we will see another complete cycle of the orange horizontal fork in the DX chart and the level indicated in my Ensign chart would be a possible level to look for the top of this cycle- if of course we do no see a conclusive break out either way. Various EU meetings today re the future single currency bailout plans & US leading indicators for Nov ...i still can't see the USD in such a negative light as many & so I still favour the US$ and my outlook for a continued $ reversal but it is possible we are going to continue in this range until maybe after the Christmas/New Year period as volume declines and major players wind down their books and dealers think about the office party and family and a rest.