Forex Trading the week of 05\/18\/2025: USDX, EU,UJ,GU,AU,

USDX: Forex Strategies Bearish: Currently, it looks like a 3rd wave– 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 slightly higher than last week.  BE SMART - TRADE WITH STOPS!!!!

EURUSD

Forex Strategies Bullish for now: We are currently @1.1164 in the start of a third wave in a range.  We are looking to continue to the1.618 Fibo @ 1.1464. We are transitioning to convergence in play for the up move. Watch the USDX for reversal and direction. The ATR for the pair currently is 96 pips and its 90 day average is 100 pips.  

USDJPY                            

Forex Strategies Bullish: We are currently @ 145.64 in a 5th wave.  We are in a channel and we expect to continue to the 6 area  @ 142.50 area. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 183 pips and it 90 day average is 163 pips.

GBPUSD                          

 Forex Strategies Bullish to Bearish: We are currently @ 1.3281 in a range. We expect a move to the top @ 1.3450 and the a sell of back to equilibrium.  Watch the USDX for direction. The average daily true range (ATR) for the pair 109 pips and it 90 day average is 103 pips.

AUDUSD

Forex Strategies: Bullish to Bearish:  We are currently @ 0.6403  in a tight range.  We are looking to continue to the top @ 0.6515 and then sell off. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 77 pips and it 90 day average is 72 pips.