Forex Trading the week of 05\/03\/2026: USDX, EU,UJ,GU

Note: Non-Farm Payroll this week! 

USDX: Forex Strategies Waiting: We could go either way.  WE had the YEN intervention that drove it down and could continue and we could be correcting back into the Box 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 except the USDJPY. BE SMART - TRADE WITH STOPS!!!!

EURUSD

Forex Strategies Waiting but bearish bias: We are currently @ 1.1721 in a Possible 3rd wave. If down look for the 0.500 Fibo @ 1.1574.  The ATR for the pair currently 59 pips and its 90-day average is 74 pips.  NOT TRADEABLE!

USDJPY                            

Forex Strategies Waiting but Bullish bias: We are currently @ 157.06 after a Flas Crash.  A couple of different scenarios:  1: Bullish: a continuation up here look for a move back to the S3 @ 158.74. 2: Bearish: A breakdown here targets the S6 @ 154.63.  The average daily true range (ATR) for the pair 116 pips and it 90-day average is 110 pips.

GBPUSD

Forex Strategies: Bullish:   We are currently @ 1.3577  in a 5th wave up. We are looking to continue up to the R6  @ 1.3770 area.  Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 75 pips and it 90-day average is 92 pips.