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This is what I see in the Forex the week of August 9th , 2020: USDX, EU,UJ,GU,AU

Note: USDX: BULLISH: MACD has convergence for a continued MOVE UP.  We are looking for an a-b-c continuation to the 0.618 Fibo for a possible reversal point to start a 5th wave down.  We could also just stay in the current range. The 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 are slightly higher than last week and are rising due to the USDX. 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 reversal

Bearish: We are currently @ 1.3155 ending a 3rd wave up. We have divergence for the downside move on the 60-minute chart.  We are looking for a Breakout and a continuation to the ATR target @ 1.3007-0 area and then a bounce on the support @ 1.2983. Watch the USDX for direction. The ATR for the pair currently is 110 pips per day.  

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GBPJPY Breakout

Bearish: We are currently @ 138.10 after a breakout. We have the start of convergence for the downside move on the 60-minute chart.  We are looking for a continuation to the ATR target @ 137.42 and maybe the 0.500 Fibo @ 137.11.  Watch the USDX for direction. The ATR for the pair currently is 94 pips per day.  

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EURUSD 4th wave continuation

Bearish: We are currently @ 1.1725 after a 3rd wave. We have convergence for the downside move on the 60-minute chart.  We are looking for an a-b-c continuation to the 0.500 Fibo @ 1.1538 for a possible reversal point.  Watch the USDX for direction. The ATR for the pair currently is 93 pips.  

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This is what I see in the Forex the week of July 19th , 2020: USDX, EU,UJ,GU,AU

Note: USDX: BULLISH: MACD has convergence for a continued MOVE UP.  We are looking for an a-b-c continuation to the 0.500 Fibo for a possible reversal point.  The 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 are slightly higher than last week and are rising due to the USDX. 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

EURNZD Channel continuation

Bullish: Currently we are @ 1.7728 in a channel.  We are looking to continue to ATR target @ 1.7800 area and possible on to 2.270 Fibo @ 1.7587. Watch for the reaction there.  The average daily true range (ATR) for the pair currently is 124 pips.

 

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GBPUSD Channel continuation

Bullish: Currently we are @ 1.2971 in a channel out of a Range.  If we can break the Flag pattern, we are looking to continue to ATR target @ 1.3030 area and possible on to 1.3050. Watch for the reaction there.  The average daily true range (ATR) for the pair currently is 101 pips.

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GBPJPY Breakout

Bearish: Currently we are @ 135.56 in a channel in a Range.  If we can break the channel, we are looking to continue to ATR target @ 134.86 area and possible on to the support area @ 134.20.  Watch for the reaction there.  The average daily true range (ATR) for the pair currently is 133 pips.

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