Forex Trading the week of 05\/11\/2025: USDX, EU,UJ,GU,AU,

Note: US Retail Sales and unemployment this week!   

USDX: Forex Strategies Bullish: Currently, it looks like a 3rd wave or an ABC – Wait for confirmation.  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 @1.1249 in a third wave.  We are looking to continue to the S5 @ 1.1050. We have convergence in play for the down move. Watch the USDX for reversal and direction. The ATR for the pair currently is 100 pips and its 90 day average is 98 pips.  

USDJPY                            

Forex Strategies Bullish: We are currently @ 145.38 in a third wave..  We are in a channel and we expect to continue to the R6 area  @ 148.80. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 177 pips and it 90 day average is 161pips.

GBPUSD                          

 Forex Strategies Bearish: We are currently @ 1.3304 in a third wave but in a channel. We expect a 3rd  wave move to the S5 @ 1.3010vand maybe all the way to the 1.2866.  Watch the USDX for direction. The average daily true range (ATR) for the pair 104 pips and it 90 day average is 104 pips.

AUDUSD

Forex Strategies: Bearish:  We are currently @ 0.6412 in a tight channel.  We are looking to continue to the S4 @ 0.6214. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 72 pips and it 90 day average is 72 pips.