Forex Trading the week of 10\/27\/2024: USDX, EU,UJ,GU,AU,

Note: ADP and Non-Farm Payroll this week!

USDX: Forex Strategies Waiting: We are currently out of a channel and we are expecting a short continuation to the R10 Resistance @ 105.134. We should see a reaction there. Our thoughts are that we are putting in a top. 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 Waiting: We are currently @ 1.0796 still in the Range. If USDX goes up we are for a continuation to the S6 @ 1.0600. A breakout up targets the 0.500 Fibo @ 1.0941. Watch the USDX for reversal and direction. The ATR for the pair currently is 36 pips and it 90 day average is 56 pips. NOT TRADEABLE!

USDJPY

Forex Strategies Bullish to bearish: We are currently @ 152.30 in the top of a range. We might have convergence down and a double top is most likely printed before the reversal to the 0.382 Fibo @ 151.65. Watch the USDX for direction.The average daily true range (ATR) for the pair currently is 120 pips and it 90 day average is 176 pips.

GBPUSD

Forex Strategies Waiting: We are currently@ 1.2962 at the bottom of the range with a possible Falling Wedge (bullish). We are looking for a continuation to the S6 Area @ 1.2827 area. If the Wedge holds look for a move to the o.214 Fibo @ 1.3100 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 67pips and it 90 day average is 77 pips.

AUDUSD

Forex Strategies Bearish : We are currently@ 0.6605 in the bottom of a range. We are looking to continue to the S5 @ 0.6560. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 50 pips and it 90 day average is 54 pips. NOT TRADEABLE!