Bearish: Currently we are @ 1.8776 in a Range and just out of a flag pattern. We are looking for a continuation initially to the ATR Target @ 1.8699 and then the 0.500 Fibo @ 1.8618. Watch for the bounce there. The average daily true range (ATR) for the pair currently is 179 pips and its 180-day ATR is 168 pips a day.

Currently we are @ 0.6625 in a range and after bouncing hard on the day chart bottom. We are looking for a continuation initially to the 0.382 Fibo @ 0.6648 and then the 0.500 Fibo @ 0.6761. Watch for the stall there. The average daily true range (ATR) for the pair currently is 51 pips but its 180-day ATR is 56 pips a day.

Note: USDX: We are Bearish based on the current chart which may be totally opposite when the Market opens on Monday due to after hours trading. We are looking for a quick bounce to set a top for a channel to the downside. We have convergence for this continuation of the 60 minute MACD (inset). Be aware that this could change in a heartbeat and will affect the currencies below. ATR’s are higher than last week.

$EURUSD

Bearish: Currently we are @ 0.6883 in a range. We are looking for a continuation to the ATR Target @ 0.6862 and then the bottom of the range. Watch for the bounce there. The average daily true range (ATR) for the pair currently is 41 pips but its 180-day ATR is 53 pips a day.

Note: USDX: We are Bullish to Bearish based on the current chart which may be totally opposite when the Market opens on Monday due to after hours trading. Bullish: a continuation to the range top @ 99.00, look for a reversal there fulfilling the divergence scenario on the 60 min chart (inset). Be aware that this could change in a heartbeat and will affect the currencies below. ATR’s are about the same as last week.

$EURUSD