Forex Trading the week of 05\/17\/2026: USDX, EU,UJ,GU

Lorem iNote: FOMC Minutes this week!

USDX: Forex Strategies Bullish: We are looking to unfold in a classic 5 wave structure. 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 except the USDJPY. BE SMART - TRADE WITH STOPS!!!!

SMART - TRADE WITH STOPS!!!!

EURUSD

Forex Strategies Bearish: We are currently @ 1.1625 in a Possible 3rd wave. We are looking for a 5 wave structure to materialize. Target is the range bottom @ 1.1400. The ATR for the pair currently 59 pips and its 90-day average is 70 pips. NOT TRADEABLE!

USDJPY

Forex Strategies Bullish: We are currently @ 158.77 after giving almost all of the Flash Crash back. We are looking for a short 4th wave and then resumption to the top. The average daily true range (ATR) for the pair 134 pips and it 90-day average is 103 pips.

GBPUSD

Forex Strategies: Bearish: We are currently @ 1.3325 in a 3rd wave. We are looking to bounce and then resume to the Day bottom @ 1.3179 area. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 89 pips and it 90-day average is 91 pips.

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