Bearish: Currently we are @1.6157 in a Big Range. We are looking to continue the channel to the ATR target @ 1.6129 and then to the square up @ 1.6040. The 14-day ATR (Average True Range) is 98 Pips with a 180-day ATR of 101 Pips.

Bullish to Bearish: Currently we are @1.2333 in a Big Range. We are looking to make one more run to the top. First to the ATR target @ 1.2421 and then to the range top @ 1.2478. The 14-day ATR (Average True Range) is 105 Pips with a 180-day ATR of 99 Pips.

USDX: We are waiting based on the current chart since at this point it is inconclusive. The chart may be totally opposite when the Market opens on Monday due to after-hours trading. We have possible convergence (early) for a continuation on the 60-minute MACD (inset) for the down move and at the bottom of the channel. We continue to make lower highs, so bias is to the downside. Currencies below are very difficult to forecast this week. Be aware that this could change in a heartbeat and will affect the currencies below.

Waiting: Currently we are 108.19 in a channel in a Big Range. Two scenarios: 1: Bullish: a move to the ATR target @ 108.60 and possible stronger move to the 109.00 area. 2: Bearish: A break down here to the ATR target of 107.67 and most likely to the 0.214 Fibo @ 107.52 area. The average daily true range (ATR) for the pair currently is 48 pips but its 180 day ATR is 58 pips.

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 reaction at this channel bottom for a move to the downside. We have convergence (early) for a continuation on the 60-minute MACD (inset) for the down move and at the bottom of the channel. Below is based on the down move. Be aware that this could change in a heartbeat and will affect the currencies below. ATR’s are roughly the same as last week with the exception of the USDJPY.

$EURUSD