Forex Trading the week of 09\/22\/2024: USDX, EU,UJ,GU,AU,

Note: consumer Confidence and Unemployment claims this week!

USDX: Forex Strategies Waiting forBearish: We are currently in a shallow channel in a range and are expecting a continuation to the downside. The range bottom is at 101.235 and the S6 is @ 100.878. 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 a little higher than last week. BE SMART - TRADE WITH STOPS!!!!

EURUSD

Forex Strategies Bullish: We are currently @ 1.1164 in a range. We are looking for a continuation to the R4 @ 1.1325 if we can break the range. Watch the USDX for reversal and direction. The ATR for the pair currently is 59 pips and it 90 day average is 56 pips. Not tradeable yet.

USDJPY

Forex Strategies Bearish: We are currently@ 143.93 in the top of the range. We are looking for a reversal to the S5 area @ 140.70 area. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 178 pips and it 90 day average is 157 pips.

GBPUSD

Forex Strategies Bullish: We are currently@ 1.3323 in a possible 3rd wave in a TREND!. We are looking for a continuation to the 1.618 Fibo and then maybe to the R6 @ 1.3611.Watch the USDX for direction. The average daily true range (ATR) for the pair is 87pips and it 90 day average is 72 pips.

AUDUSD

Forex Strategies Bullish : We are currently@ 0.6808 in a range. We are looking to continue up to the R5/1.000 Fibo @ 0.7000. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 59 pips and it 90 day average is 52pips. NOT TRADEABLE AT THIS ATR!