Forex Trading the week of 07\/05\/2026: USDX, EU,UJ,GU

Note: Happy Birthday USA!!!!!

USDX:

Forex Strategies Bearish: We are looking to continue the 3rdd wave after the breakout. 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 Bullish: We are currently @ 1.1436 after completing 5 waves. We are looking for an ABC pattern to the upside. The ATR for the pair currently 63 pips and its 90-day average is 62 pips. NOT TRADEABLE!

USDJPY

Forex Strategies Bearish: We are currently @ 161.37 at the day top in a rising wedge. We are looking for the reversal to continue down to the 0.500 Fibo @ 157.48. The average daily true range (ATR) for the pair 64 pips and it 90-day average is 78 pips. NOT TRADEABLE!

GBPUSD

Forex Strategies: Bullish: We are currently @ 1.3350 in a cup and handle pattern. We are looking for the Handle and then a continuation to the 1.000 Fibo @1.3463. The average daily true range (ATR) for the pair currently is 82 pips and it 90-day average is 82 pips. .

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