Note: ADP and USA unemployment claims this week!
USDX: Forex Strategies Bearish: Currently, we reacted off the top of the range and poised to go down. We have convergence on the hourlies. 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 about the same as last week. BE SMART - TRADE WITH STOPS!!!!

EURUSD
Forex Strategies Bullish: We are currently @ 1.1601 after a bounce on the range bottom. We are looking for a continuation to the R5 @ 1.1850 area. Watch the USDX for reversal and direction. The ATR for the pair currently is 55 pips and its 90-day average is 71 pips. NOT TRADEABLE

USDJPY
Forex Strategies Bearish: We are currently @ 156.18 in a pennant which is bearish. We are looking to continue to the 153.00 area. We have convergence in play on the hourlies. The average daily true range (ATR) for the pair 105 pips and it 90-day average is 118 pips.

GBPUSD
Forex Strategies: Bullish: We are currently @ 1.3232 in a 3rd wave in a range. We are looking for a continuation to the range top @ 1.3547 area. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 81 pips and it 90-day average is 85 pips.

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