Forex Trading the week of 12\/01\/2024: U.SDX, EU,UJ,GU,AU,

Note: ADP and NFP this week! Open House is the next 2 weeks!!

USDX: Forex Strategies Bearish: We are currently in a 3rd wave. We are looking to continue to the 0.214 Fibo @104.842 and then bounce. 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 overall than last week. Lots of Waves this week! BE SMART - TRADE WITH STOPS!!!!

EURUSD

Forex Strategies Bullish: We are currently @ 1.0578 after a hard bounce on the range bottom. We are looking to continue a 3rd wave to the 0.382 Fibo @ 1.0706 area. With momentum we might continue to the 0.214 Fibo @ 1.0798. @148.80. Watch the USDX for reversal and direction. The ATR for the pair currently is 96 pips and it 90 day average is 69 pips.

USDJPY

Forex Strategies Bearish: We are currently @ 149.70. We are looking to continue a 3rd wave to the S7 @ 146.88 area. Watch for a4th wave bounce there. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 154 pips and it 90 day average is 180 pips.

GBPUSD

Forex Strategies Bullish: We are currently@ 1.2737 in a channel and a 3rd wave. We are looking to finish the wave to the R3 @ 1.2864. We have convergence to continue . Watch the USDX for direction. The average daily true range (ATR) for the pair 93 pips and it 90 day average is 88 pips.

AUDUSD

Forex Strategies Bullish : We are currently@ 0.6514 in a range in a channel. We are looking to continue to the 0.214 Fibo @ 0.6439 area. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 52 pips and it 90 day average is 59 pips.