Scott Barkley's blog

EURUSD– PULLBACK?

Bearish overall: Currently we are @ 1.1735 in the bottom of a channel. We are looking for a pullback to the 0.382 Fibo @ 1.1823 and then a continuation initially to the Day support @ 1.1677 and an overall target this week of 1.1634. The average daily true range (ATR) for the pair currently is 86 pips

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EURAUD– continuation?

Bearish: Currently we are @ 1.5533 back in the channel. We are looking for a continuation initially to the 1.618 Fibo @ 1.5472 and an overall target this week of 1.5410. The average daily true range (ATR) for the pair currently is 84 pips.

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EURUSD– continuation?

Bearish: Currently we are @ 1.1794 in a nice channel. We are looking for a continuation initially to the Day Support @ 1.1677 and an overall target this week of 1.1554. The average daily true range (ATR) for the pair currently is 86 pips.

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NZDJPY– continuation?

Bullish: Currently we are @ 76.90. We are looking for a continuation to the 0.500 Fibo @ 77.77. The average daily true range (ATR) for the pair currently is 55 pips.

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Target Trading in the Forex week of May 20th, 2018 EU UJ GU AU

Note: USDX is BULLISH (for now) but we have had divergence that appears to have now resolved to the upside.  We are right now at a bounce point but a break above 94.37 indicates a 5th wave continuation.  Be aware that that could change in a heartbeat and will affect the currencies below. ATR’s have increased slightly.

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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

EURJPY – new channel?

Bullish: Currently we are @ 130.71 in a newly built channel. We are looking for a continuation to the 1.270 Fibo @ 131.87 and then 132.49. The average daily true range (ATR) for the pair currently is 82 pips.

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EURUSD– continuation?

Bearish: Currently we are @ 1.1782. We are looking for a continuation to the 1.270 Fibo @ 1.1708. The average daily true range (ATR) for the pair currently is 85 pips.

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EURGBP– continuation

Bearish: Currently we are @ 0.8787. We are looking for a continuation to the 0.382 Fibo/slope support @ 0.8759 and then the greater target (0.500 Fibo) of 0.8732. The average daily true range (ATR) for the pair currently is 56 pips and pays 35% more return than EURUSD.

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USDCAD– continuation

 

Bearish: Currently we are @ 1.2765 in a Triangle pattern. We are looking for a continuation to the 0.618 Fibo @ 1.2708 and then the greater target (0.786 Fibo) of 1.2628. The average daily true range (ATR) for the pair currently is 87 pips.

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Target Trading in the Forex week of May 13th, 2018 EU UJ GU AU

Note: USDX is bearish (for now) but it probably is only a correction. We are right now at a bounce point. Be aware that that could change in a heartbeat and will affect the currencies below. ATR’s have increased slightly. Unless clear, I will give both possibilities.

$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

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