Forex Trading the week of 07\/06\/2025: USDX, EU,UJ,GU,AU,

Note: FOMC Minutes this week!   

USDX: Forex Strategies Waiting: Currently, a sideways move is in place. We are oscillating at equilibrium in the meantime. 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 lower than last week.  BE SMART - TRADE WITH STOPS!!!!

EURUSD

Forex Strategies Bullish: We are currently @ 1.1778 in a 5th wave. A couple of different scenarios:  1: Bullish: a 5th wave continuation, look for a move up to the 0.618 Fibo @ 1.1999. 2: Bearish: A breakdown would most likely come back to the R5  @ 1.1446 and then back to the range top.  Watch the USDX for reversal and direction. The ATR for the pair currently is 80 pips and its 90 day average is 102 pips.  

USDJPY                            

Forex Strategies Waiting: We are currently @ 144.50  in a range.  A couple of different scenarios:  1: Bullish: a continuation to the range top @148.63.  2: Bearish: A breakdown would most likely target first the range bottom and maybe the 1.270 Fibo @ 140.35.  Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 128 pips and it 90 day average is 161 pips.

GBPUSD                          

 Forex Strategies Waiting: We are currently @ 1.3647 in a range. A couple of different scenarios:  1: Bullish: a continuation to the range top @ 1.3789 and then??? 2: Bearish: A breakdown would most likely target the range bottom @ 1.3380 area.  Watch the USDX for direction. The average daily true range (ATR) for the pair 106 pips and it 90 day average is 101 pips.

AUDUSD

Forex Strategies: Bullish (maybe?):  We are currently @ 0.6553 just out of  a tight range.  We are looking to continue to the day top @ 0.6685. Could also easily come back in the range. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 60 pips and it 90 day average is 72 pips.