Forex Trading the week of 03\/08\/2026: USDX, EU,UJ,GU

Note: Not many Fundies  this week! 

USDX: Forex Strategies Bearish: We have put in a double top and now have a breakout down.  We are looking for an ABC pattern after the 5 waves up.  We are looking for a continuation to the 0.382 Fibo @ 98.370 area.  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 Higher than last week. BE SMART - TRADE WITH STOPS!!!!

EURUSD

Forex Strategies Bullish: We are currently @ 1.1619 . We have put in a double top and now have a breakout We are looking to continue to the R4  @ 1.1770 area.  The ATR for the pair currently 73 pips and its 90-day average is 57 pips. 

USDJPY                            

Forex Strategies Bearish: We are currently @ 157.79 after 5 waves up and a double top in place.  WE are looking to quickly finish a head and shoulders and then a continuation to the 0.500 Fibo @155.47 area. We have divergence in play.  The average daily true range (ATR) for the pair 111 pips and it 90-day average is 102 pips.

GBPUSD

Forex Strategies: Bullish:   We are currently @ 1.3412 in a 3rd wave after a head and shoulders pattern for the reversal. We are looking to continue to the R5 @ 1.3640 area. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 94 pips and it 90-day average is 75 pips.