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This is what I see in the Forex the week of October 18th , 2020: USDX, EU,UJ,GU,AU

Note: USDX: Bearish: We are in a channel and (1H) MACD has convergence for a MOVE Down.  We are looking for continued weakness with 2 lower targets.: 92.636, 92.243.  USD 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 overall are about the same as last week and will change again on Sunday – use as a reference. BE SMART - TRADE WITH STOPS!!!!

$EURUSD

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What I See in the Forex
What I See in the Forex
What I See in the Forex
What I See in the Forex
What I See in the Forex

GBPUSD opportunity

Bearish: We are currently @ 1.3094 in a corrective move in a range.  IF we can break support here, we are looking for a continuation to the ATR target @ 1.3024 area. This is the key area for a bounce.  Watch the USDX for direction. The ATR for the pair currently is 126 pips per day. 

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EURAUD opportunity

Bearish: We are currently @ 1.6724 in a range.  IF we can break support here we are looking for a continuation to the ATR target @ 1.6650 area. This is the key area for a bounce or breakout.  Watch the USDX for direction. The ATR for the pair currently is 116 pips per day. 

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GBPJPY Range Trade

Bearish: We are currently @ 136.57 in a range.  IF we can break slope support we are looking for a continuation to the ATR target @ 135.30 area. This is also the Range bottom @ 135.67 area so watch for a bounce there. Watch the USDX for direction. The ATR for the pair currently is 126 pips per day. 

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GBPCHF Channel Continuation

Bearish: We are currently @ 1.1829 in a range.  We are looking for a continuation to the ATR target @ 1.1704 area. This is also the Day chart support so watch for a bounce there. Watch the USDX for direction. The ATR for the pair currently is 95 pips per day. 

 

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This is what I see in the Forex the week of October 18th , 2020: USDX, EU,UJ,GU,AU

Note: USDX: Waiting: We are in a range and MACD has convergence for a MOVE Down.  We have either an ABC pattern for the down move or is it a 1234 wave pattern for the up move?  USD 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 overall are much lower than last week (GBPUSD is the same) and will change again on Sunday – use as a reference. BE SMART - TRADE WITH STOPS!!!!

$EURUSD

Image(s): 
What I See in the Forex
What I See in the Forex
What I See in the Forex
What I See in the Forex
What I See in the Forex

GBPJPY Channel Continuation

Bearish: We are currently @ 136.09 in a range.  We have convergence on the 60 min.  We  are looking for a continuation to the ATR target @ 135.50 area and maybe the 1.270 Fibo @ 135.10. Watch the USDX for direction. The ATR for the pair currently is 126 pips per day. 

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AUDUSD Breakout

Bullish: We are currently @ 0.7185 in a range.  We have convergence on the 60 min.  We just broke Slope resistance so we are looking for a continuation to the ATR target @ 0.7229 area. Watch the USDX for direction. The ATR for the pair currently is 67 pips per day. 

 

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