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GBPAUD Range trade

Bullish:  We are currently @ 1.7869 in a range. We are looking for a move to the ATR Target @ 1.7964 area. A continuation would target the top at 1.7999. Watch the USDX for any change in direction. The ATR for the pair currently is 122 pips per day. 

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EURUSD channel trade

Bearish:  We are currently @ 1.2026 in a channel which is bearish. We are looking for a move to the ATR Target @ 1.1985 area. A continuation would target the 0.786 Fibo at 1.1874. Watch the USDX for any change in direction. The ATR for the pair currently is 73 pips per day. 

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This is what I see in the Forex the week of February 8th , 2021: USDX, EU,UJ,GU,AU

Note: USDX: Bearish to possible Bullish: We are in a channel. We have the possible start of divergence in play for the down move.  The Question is : Will this be a  5th wave up for the bullish continuation or the breakdown of the channel with an a-b-c pattern? A bounce @ 91.50 area will confirm the buy.  ATR’s overall are lower than last week and will change again on Sunday – use as a reference. BE SMART - TRADE WITH STOPS!!!!

$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

GBPJPY channel trade

Bearish:  We are currently @ 143.24 in a range and out of a rising wedge which is bearish. We are looking for a move to the ATR Target @ 142.60 area. A continuation would target the 0.500 Fibo for an additional 35 pips. Watch the USDX for any change in direction. The ATR for the pair currently is 90 pips per day. 

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EURJPY channel trade

Bearish:  We are currently @ 126.45 in a channel and a range. We are looking for a move to the ATR Target @ 125.87 area. A continuation would target the 0.214 Fibo for an additional 25 pips. Watch the USDX for any change in direction. The ATR for the pair currently is 66 pips per day. 

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GBPUSD reversal trade

Bearish:  We are currently @ 1.3683 in a range and a triple top in play. IF we can break this support, we are looking for a move to the ATR Target @ 1.3600 area. A continuation would target the 0.500 Fibo for an additional 75 pips. Watch the USDX for any change in direction. The ATR for the pair currently is 102 pips per day. 

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This is what I see in the Forex the week of January 31st , 2021: USDX, EU,UJ,GU,AU

Note: USDX: Bullish: We are in a channel. We have the possible start of divergence in play for the down move.  The Question is : is this a 5th wave up for the sell or the start of a bigger move up? ATR’s overall are higher than last week except for the GBPUSD (-20) and will change again on Sunday – use as a reference. BE SMART - TRADE WITH STOPS!!!!

$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

EURUNZD reversal trade

Bullish:  We are currently @ 1.6854 in a range and a channel. IF we can break this resistance, we are looking for a move to the ATR Target @ 1.6915 area. A continuation would target the channel wall for an additional 60 pips. Watch the USDX for any change in direction. The ATR for the pair currently is 116 pips per day. 

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