Forex Trading the week of 09\/15\/2024: USDX, EU,UJ,GU,AU,

Note: Core PPI and PPI this week!

USDX: Forex Strategies Bearish: We are currently in a flag pattern ( bearish) and are expecting a continuation to the downside. The range bottom is at 101.270. 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 USDJPY which is lower. BE SMART - TRADE WITH STOPS!!!!

EURUSD

Forex Strategies Bullish: We are currently @ 1.1200 in a range. We are looking for a continuation to the R4 @ 1.1182 and a further target at the Day chart top @ 1.0827. Watch the USDX for reversal and direction. The ATR for the pair currently is 57 pips and it 90 day average is 55 pips. Not tradeable yet.

USDJPY

Forex Strategies Bearish: We are currently@ 140.82 in a 3rd wave and a channel. We are looking for a continuation to the S7 area @ 139.53 area. Watch the USDX for direction. Watch for a 4thwave there. The average daily true range (ATR) for the pair currently is 159 pips and it 90 day average is 153 pips.

GBPUSD

Forex Strategies Bullish: We are currently@ 1.3125 in a big range. We are looking for a continuation to the day chart top @ 1.3266. Watch the USDX for direction. The average daily true range (ATR) for the pair is 77 pips and it 90 day average is 70 pips.

AUDUSD

Forex Strategies Bullish : We are currently@ 0.6705 in a range. We are looking to continue up to the Day chart top @ 0.6814. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 53 pips and it 90 day average is 52pips. NOT TRADEABLE AT THIS ATR!