Forex Trading the week of 10\/06\/2024: USDX, EU,UJ,GU,AU,

Note: FOMC Minutes this week!

USDX: Forex Strategies Bullish: We are currently reacting to Non Farm Payroll in a channel and are expecting a continuation to the 4.236 Fibo and maybe to the day chart resistance @ 103.66. We should see a reaction there. 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 higher than last week. BE SMART - TRADE WITH STOPS!!!!

EURUSD

Forex Strategies Bearish: We are currently @ 1.0974 in a channel. We are looking first for a 4th wave correction and then for a continuation to the S5 @ 1.0832. Watch the USDX for reversal and direction. The ATR for the pair currently is 73 pips and it 90 day average is 59 pips.

USDJPY

Forex Strategies Bullish toBearish: We are currently @ 148.70 in a large range and channel. We are looking for a continuation (USDX is up) to the Day chart top @ 149.36 area and then a sell off. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 206 pips and it 90 day average is 172 pips.

GBPUSD

Forex Strategies Bullish to bearish: We are currently@ 1.3126 in a 3rd wave in a range!. We are looking for a correction and then a continuation to the S5 Area @ 1.3050 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 109 pips and it 90 day average is 78 pips.

AUDUSD

Forex Strategies Bearish : We are currently@ 0.6794 out of a range. We are looking to continue to the 0.382 Fibo @ 0.6744. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 65 pips and it 90 day average is 54pips.