Forex Trading the week of 11\/10\/2024: USDX, EU,UJ,GU,AU,

Note: Talking heads this week!

USDX: Forex Strategies Waiting: We are currently in a channel. A couple of different scenarios: 1: Bullish: a bounce here look for a move back to the 1.000 Fibo @ 105.898. 2: Bearish: A reversal here would most likely take out the former R4 @ 104.111.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 overall than last week. BE SMART - TRADE WITH STOPS!!!!

EURUSD

Forex Strategies Bearish: We are currently @ 1.892 in a Range. We are looking for a continuation to the range bottom @ 1.0650. If it breaks here target the 2.618 Fibo @ 1.0397Watch the USDX for reversal and direction. The ATR for the pair currently is 75 pips and it 90 day average is 60 pips.

USDJPY

Forex Strategies Bearish for now: We are currently @ 152.64 in a range in a range. We have divergence in play. We are looking at the Range bottom @ 151.29 area. Could bounce there. With momentum we might continue to the day chart bottom @148.80. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 154 pips and it 90 day average is 183 pips.

GBPUSD

Forex Strategies Waiting: We are currently@ 1.2920 in a tight range. If dollar goes up, we are looking for a continuation to the 1.618 Fibo @ 1.2670 area. A bounce targets the 0.500 Fibo @ 1.3219 area. . Watch the USDX for direction. The average daily true range (ATR) for the pair is 98 pips and it 90 day average is 82 pips.

AUDUSD

Forex Strategies Bearish for now : We are currently@ 0.658. We are looking to continue to the day chart bottom @ 0.6666 area. If it bounces we are looking to the 0.382 Fibo @ 0.6744. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 62 pips and it 90 day average is 56 pips.