Forex Trading the week of 04\/19\/2026: USDX, EU,UJ,GU

Note: Not many fundies this week! 

USDX: Forex Strategies Waiting: We could go either way.  We are looking for a possible 4th wave up to a 5th wave down. 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 about the same as last week. BE SMART - TRADE WITH STOPS!!!!

EURUSD

Forex Strategies Waiting but bearish bias: We are currently @ 1.1765 at a significant top. We could do a short 4th wave to a 5th wave up or continue down. If down look for the 0.214 Fibo @ 1.1454.  The ATR for the pair currently 71pips and its 90-day average is 73pips. 

USDJPY                            

Forex Strategies Waiting: We are currently @ 158.62 after a bounce on the range bottom.  A couple of different scenarios:  1: Bullish: a bounce here look for a move back to the range top @ 160.50. 2: Bearish: A breakdown here targets the 0.214 Fibo @ 154.02.  The average daily true range (ATR) for the pair 74 pips and it 90-day average is 91 pips.

GBPUSD

Forex Strategies: Bearish:   We are currently @ 1.3519  after 5 waves up. We are looking to continue down to the range bottom  @ 1.3179 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 9 pips.