Bearish: We are currently @ 1.2846 after an ABC correction. We have convergence on the 60 min and we are looking for a continuation to the ATR target @ 1.2727 and then the day support @ 1.2673 area. Watch the USDX for direction. The ATR for the pair currently is 140 pips per day.
Bearish: We are currently @ 1.1868 after an ABC correction. We have convergence on the 60 min and we are looking for a continuation to the ATR target @ 1.1748 and then the day support @ 1.1704 area. Watch the USDX for direction. The ATR for the pair currently is 114 pips per day.
Bullish: We are currently @ 123.11 in a reversal to the upside. We have convergence and we are looking for a continuation to the ATR target @ 123.54 and then the R3 @ 123.82 area. Watch the USDX for direction. The ATR for the pair currently is 89 pips per day
Note: USDX: Waiting: We are in the top of a range and MACD has convergence for a MOVE DOWN. We are also at a significant bounce point and could just bounce up and stay in the current range. The USD pairs should prove it out when the market opens. All of this could change in a heartbeat and will affect the currencies below. ATR’s overall are slightly higher then last week and will change again on Sunday – use as a reference. BE SMART - TRADE WITH STOPS!!!!
Bullish: We are currently @ 1.1806 in a channel to the upside. We have convergence and we are looking for a continuation to the ATR target @ 1.1874 and then the 0.618 Fibo @ 1.1989-2000 area. Watch the USDX for direction. The ATR for the pair currently is 115 pips per day.
Bullish: We are currently @ 133.87 after making the turn to the upside. We have divergence and we are looking for a continuation to the ATR target @ 134.05. Watch the USDX for direction. The ATR for the pair currently is 147 pips per day.
Bearish: We are currently @ 1.2850 after a pullback. We are looking for a continuation to the ATR target @ 1.2800 and then the 0.618 Fibo @ 1.2751. Watch the USDX for direction. The ATR for the pair currently is 140 pips per day.
Note: USDX: Waiting: We are in the bottom of a range in a flag pattern and MACD has convergence for a MOVE DOWN. We are also at a significant bounce point and could also just bounce up and stay in the current range. The USD pairs should prove it out when the market opens. All of this could change in a heartbeat and will affect the currencies below. ATR’s are slightly down from last week and will change again on Sunday – use as a reference. BE SMART - TRADE WITH STOPS!!!!
GBPUSD channel
Bearish: We are currently @ 1.2846 after an ABC correction. We have convergence on the 60 min and we are looking for a continuation to the ATR target @ 1.2727 and then the day support @ 1.2673 area. Watch the USDX for direction. The ATR for the pair currently is 140 pips per day.