Forex Trading the week of 08\/03\/2025: USDX, EU,UJ,GU,AU,

Note:
ISM Service and BOE this week!   

USDX: Forex Strategies Bearish: Currently, a C  wave in a range. We are looking to complete the wave pattern and then bounce to set a 3rd wave down. 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 significantly higher than last week.  BE SMART - TRADE WITH STOPS!!!!

EURUSD

Forex Strategies Bullish: We are currently @ 1.1486 in a range. We are anticipating the finish of the C wave @ the 0.214 Fibo @ 1.1705. Watch the USDX for reversal and direction. The ATR for the pair currently is 95 pips and its 90 day average is 102 pips.  

USDJPY                            

Forex Strategies Bearish: We are currently @ 147.40  in a range. We are looking to first get a pullback and then a move  to the range bottom @ 145.89. Watch the USDX for direction. The average daily true range (ATR) for the pair 137 pips and it 90 day average is 160 pips.

GBPUSD

Forex Strategies: Bullish:   We are currently @ 1.3280  in a range.  We are looking for a short pullback and the resumption to the 0.214 Fibo @ 1.3493 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 102 pips. 

AUDUSD

Forex Strategies: Bullish:  We are currently @ 0.6470  in  a tight range.  We are looking to continue to the range top @ 0.6626. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 58 pips and it 90 day average is 72 pips.