Forex Trading the week of 09\/29\/2024: USDX, EU,UJ,GU,AU,

Note: Non Farm Payroll and ADP this week!

USDX: Forex Strategies Bearish: We are currently in a Descending Wedge in a channel and are expecting a continuation to the downside. 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 1.618 Fibo @ 1.1305, if we can break the range. Watch the USDX for reversal and direction. The ATR for the pair currently is 65 pips and it 90 day average is 58 pips.

USDJPY

Forex Strategies Bearish: We are currently@ 142.22 in a large range. We are looking for a continuation (USDX is down) to the Day chart bottom @ 139.50 area. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 176 pips and it 90 day average is 163 pips.

GBPUSD

Forex Strategies Bullish: We are currently@ 1.3373 in a 3rd wave in a range!. We are looking for a continuation to the 1.3547-3650 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 99 pips and it 90 day average is 75 pips.

AUDUSD

Forex Strategies Bullish : We are currently@ 0.6902 out of a range. We are looking to continue up to the 1.618 Fibo @ 0.7121. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 61 pips and it 90 day average is 53pips. NOT TRADEABLE AT THIS ATR!