Forex Trading the week of 10\/13\/2024: USDX, EU,UJ,GU,AU,

Note: Bank Holiday in the USA on Monday this week - we are closed!

USDX: Forex Strategies Bullish: We are currently in a channel and a flag pattern (bullish continuation) and we are expecting a continuation to the 6.854 Fibo and maybe to the R10 resistance @ 105.132. 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 lower than last week. BE SMART - TRADE WITH STOPS!!!!

EURUSD

Forex Strategies Bearish: We are currently @ 1.0938 in a channel and possible 5th wave. We are for a continuation to the 2.618 Fibo @ 1.0763. Watch the USDX for reversal and direction. The ATR for the pair currently is 67 pips and it 90 day average is 59 pips.

USDJPY

Forex Strategies Bullish: We are currently @ 149.14 in a channel. WE have a flag pattern so looking for a continuation of the 3rdwave. Outside target is the 2.618 Fibo @ 151.45. Watch the USDX for direction.The average daily true range (ATR) for the pair currently is 188 pips and it 90 day average is 177 pips.

GBPUSD

Forex Strategies Bearish: We are currently@ 1.3069 in a flag at the bottom of the range. We are looking for a range break ( dollar is up) and then a continuation to the S Area @ 1.2827 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 95 pips and it 90 day average is 78 pips.

AUDUSD

Forex Strategies Bearish : We are currently@ 0.6635 in a nice range. We are looking to continue to the range bottom @ 0.6629. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 64 pips and it 90 day average is 54 pips.