Forex Trading the week of 01\/05\/2025: USDX, EU,UJ,GU,AU,

Note: FOMC and NFP this week! Happy New Year

USDX: Forex Strategies Bullish for now: We are currently in a 4thwave looking for 5 this week. We are looking to continue to the R9 @110.741. The pairs should prove it out when the market opens. FOMC and NFP this week so all of this could change in a heartbeat and will affect the currencies below. ATR’s are about the same as last week except GBPUSD which is higher. BE SMART - TRADE WITH STOPS!!!!

EURUSD

Forex Strategies Bearish: We are currently @ 1.0309 in a channel and a 3rd wave. We are looking to continue to the S6 @ 1.1123 area Watch the USDX for reversal and direction. The ATR for the pair currently is 77 pips and its 90 day average is 73 pips.

USDJPY

Forex Strategies Waiting: We are currently @ 157.31. USDX going up and USDJPY not following with a flag pattern at this top. Tells me they want to reverses????? Above 158.50 I am bullish but the triangle pattern may shoot it down. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 136 pips and it 90 day average is 158 pips.

GBPUSD

Forex Strategies Bearish: We are currently @ 1.2422 in a channel. We expect a move to the S6 @ 1.2190 and then the Day chart bottom @ 1.2063.. Watch the USDX for direction. The average daily true range (ATR) for the pair 103 pips and it 90 day average is 91 pips.

AUDUSD

Forex Strategies Waiting : We are currently @ 0.6217 at the day chart bottom. Also in a Descending wedge. Below 0.6175 I will be bearish to 0.6105. A break up target the .0500 Fibo @ 0.6376. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 51 pips and it 90 day average is 58 pips.