This is what I see in the Forex the week of April 7th , 2024 USDX, EU,UJ,GU,AU

Note: FOMC Minutes this week + Eclipse on Monday- we are closed

USDX: Waiting: We are in a triangle and could go either way. We have convergence so the downsize is in play. 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 than last week. BE SMART - TRADE WITH STOPS!!!!

EURUSD

Bullish: We are currently @ 1.0837 after breaking out of a falling wedge. We have convergence in play for the upside move. We are looking for a move to the 1.1000. Watch for a possible reaction there. Watch the USDX for reversal and direction. The ATR for the pair currently is 54 pips and it 90 day average is 62 pips.

USDJPY

Waiting: We are currently@ 151.63 in the top of a range. We are looking for a short to take out the S4 @ @ 149.63. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 75 pips and it 90 day average is 119 pips.

GBPUSD

Bullish : We are currently@ 1.2638 in a big range and channel. We are looking to continue to the R4 @ 1.2772 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 70pips and it 90 day average is 81 pips.

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