Currently we are @1.8500 and in a flag pattern (same as yesterday). If we can break back into the channel, we are looking for a continuation to the 0.500 Fibo and ATR target of @ 1.18364. The average daily true range (ATR) for the pair currently is 202 pips.

Bearish: Currently we are @75.30 in a range. We are looking for a continuation to the range bottom @ 74.75 and maybe the 0.786 Fibo @ 74.46 area. The average daily true range (ATR) for the pair currently is 65 pips.

Note: USDX is in a range. We are waiting. We have divergence for the reversal and at a significant top. Watch the reaction @ the 98.28 area for either a continuance or reversal. 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 GBPUSD which is up 16 more pips.

$EURUSD

Bullish: Currently we are @146.11 in a range. We are looking for a continuation through the Slope resistance to 147.28 (ATR Target). IF we can break the resistance there, we are looking for the continuation to the range top in the 149.00 area. The average daily true range (ATR) for the pair currently is 176 pips.

Bearish: Currently we are @ 1.5935 in a range and a nice channel. IF we can break the 0.618 Fibo here, we are looking for the continuation to the square up @ 1.5874. The average daily true range (ATR) for the pair currently is 98 pips.