Forex Trading the week of 03\/02\/2025: USDX, EU,UJ,GU,AU,

Note: ADP and NFP this week!

USDX: Forex Strategies Bullish: We are in a 4th wave correction, so should see it top out and do a 5th wave down. We also see convergence 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. ATR’s are lower than last week. BE SMART - TRADE WITH STOPS!!!!

EURUSD

Forex Strategies Bearish: We are currently @ 1.0376 in a channel in a 3rd wave. We are still in a range and we are looking to continue to the S4 @ 1.0300. Watch the USDX for reversal and direction.The ATR for the pair currently is 72 pips and its 90 day average is 82 pips.

USDJPY

Forex Strategies Bullish: We are currently @ 152.30 and USDX is going up for now. We are in a channel and we expect to continue to the R6 area. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 145 pips and it 90 day average is 146 pips.

GBPUSD

Forex Strategies Bearish: We are currently @ 1.2577 in the top of a range in a 3rd wave. We expect a move to the 0.382 Fibo/ S5 @ 1.2336 and then we’ll see. Watch the USDX for direction. The average daily true range (ATR) for the pair 85 pips and it 90 day average is 99 pips.

AUDUSD

Forex Strategies Bearish: We are currently @ 0.6208 in a range. We are looking to finish this move at the range bottom @ 0.6100. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 51 pips and it 90 day average is 58pips.