Forex Trading the week of 10\/20\/2024: USDX, EU,UJ,GU,AU,

: Unemployment claims this week!

USDX: Forex Strategies Bearish: We are currently out of a channel and we are expecting a short bounce and then a continuation to the S6 support @ 102.865. 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 significantly lower than last week. BE SMART - TRADE WITH STOPS!!!!

EURUSD

Forex Strategies Bullish: We are currently @ 1.0868 about to break back in the Range. We are for a continuation to the R4 @ 1.1052. Watch the USDX for reversal and direction. The ATR for the pair currently is 55 pips and it 90 day average is 46 pips. NOT TRADEABLE!

USDJPY

Forex Strategies Bearish: We are currently @ 149.54 in a range and barely out of the old channel. We have convergence down and expect a right shoulder before the continuation to the S6 @ 144.24. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 149 pips and it 90 day average is 173 pips.

GBPUSD

Forex Strategies Bullish: We are currently@ 1.3053 at the bottom of the range. We are looking for a breakout and then a continuation to the R4 Area @ 1.3200 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 80 pips and it 90 day average is 78 pips.

AUDUSD

Forex Strategies Bullish : We are currently@ 0.6706 in a nice range. We are looking to continue to the R3 @ 0.6798. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 53 pips and it 90 day average is 53 pips. NOT TRADEABLE!