Forex Trading the week of 01\/12\/2025: USDX, EU,UJ,GU,AU, v

Note: No Fundies during class this week (No outlook due to Scott surgery)

USDX: Forex Strategies Waiting but Bullish for now: We are currently in a 5th wave and waiting to see if we break the top. NFP was very positive which may have the catalyst to get there. We also have divergence for the down move. The pairs should prove it out when the market opens. All of this could change in a heartbeat and will affect the currencies below. . BE SMART - TRADE WITH STOPS!!!!

EURUSD

Forex Strategies Bearish but Waiting: We are currently@ 1.0246 in a channel. We are looking to continue to the S6 @ 1.0022 area Watch the USDX for reversal and direction. The ATR for the pair currently is 77 pips and its 90 day average is 74pips.

USDJPY

Forex Strategies Waiting: We are currently @ 157.73. USDX going up and USDJPY not following with a flag pattern and a whipsaw at this top. This tells me they want to reverse????? Above 158.50 I am bullish, but we might finally get a push down if USDX reverses. Watch the USDX for direction.The average daily true range (ATR) for the pair currently is 127 pips and it 90 day average is 154 pips.

GBPUSD

Forex Strategies Bearish: We are currently @ 1.2205 in a channel is a 5th wave. 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 103pips and it 90 day average is 94 pips.

AUDUSD

Forex Strategies Bearish: We are currently @ 0.6147 just below the day chart bottom. Also in a 5th wave. Looking to finish the wave @ the S6 @ 0.6080. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 50 pips and it 90 day average is 58 pips.