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GBPAUD: Reversal?

Bearish: Currently we are at 1.8847 in a channel. A continuation below 1.8839 would Target the ATR @ 1.8781 area with a later continuation to the 0.786 Fibo @ 1.8754. The average daily true range (ATR) for the pair currently is 134 Pips. WATCH THE USDX for more clues.

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USDJPY: Reversal?

Bullish: Currently we are at 1.0433 in a channel. A continuation above 1.0450 would Target the ATR @ 1.0508 area. Watch the 2 set of tops. The average daily true range (ATR) for the pair currently is 99 Pips. WATCH THE USDX for more clues.

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AUDNZD: continuation?

Bullish: Currently we are at 1.0433 in a channel. A continuation above 1.0450 would Target the ATR @ 1.0508 area. Watch the 2 set of tops. The average daily true range (ATR) for the pair currently is 99 Pips. WATCH THE USDX for more clues.

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EURGBP: continuation?

Bullish: Currently we are at 0.8577 in a possible 3rd wave of still in a range. A continuation above 0.8600 would confirm the wave and Target the R4 @ 0.9700 area. A reaction down @ 0.8600 confirms the range and would target a move back to the 0.8470 area. The average daily true range (ATR) for the pair currently is 61 Pips. WATCH THE USDX for more clues.

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This is what I see in the Forex the week of January 12th, 2020: USDX, EU,UJ,GU,AU

Note: USDX: Bullish: We are anticipating a pullback here and then the continuation of dollar strength after the bounce on the bottom.  We have divergence on the 60 min chart (see inset) which is bearish for now.

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What I See in the Forex
What I See in the Forex
What I See in the Forex
What I See in the Forex
What I See in the Forex

GBPJPY: continuation?

Bearish: Currently we are at 142.72 in a flag pattern inside a range. A continuation here would target the ATR Target @ 141.52 area. There is a double bottom @ 141.25-hold for that. The average daily true range (ATR) for the pair currently is 145 pips with a 180-day ATR of 119 Pips. WATCH THE USDX for more clues.

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GBPUSD: continuation?

Bearish: Currently we are at 1.3109 after the Break of support. A continuation here would target the ATR Target @ 1.3000 area. The average daily true range (ATR) for the pair currently is 122 pips with a 180-day ATR of 96 Pips. WATCH THE USDX for more clues

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Trade of the week

Trade of the week on GBPAUD

Enjoy - Click here

EURJPY: continuation?

​Bearish:Currently we are at 0.8520 on the top of a day chart trend.A continuation here would signal the start of a 5th wave to the downside. Target 1 is the S6 from the 3rd wave and target 2 is the double bottom @ 0.8300 area. The average daily true range (ATR) for the pair currently is 81 pips with a 180-day ATR of 60 Pips.​

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