Bullish: Currently we are at 0.8577 in a possible 3rd wave of still in a range. A continuation above 0.8600 would confirm the wave and Target the R4 @ 0.9700 area. A reaction down @ 0.8600 confirms the range and would target a move back to the 0.8470 area. The average daily true range (ATR) for the pair currently is 61 Pips. WATCH THE USDX for more clues.