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GBPUSD channel continuation

Bullish: We are currently @ 1.3118 after the channel bounce. We have convergence for the upside move on the 60-minute chart.  We are looking for a continuation to the ATR target @ 1.3188 and then possible continue to the 2.270 Fibo extension @ 1.3214.   Watch the USDX for direction. The ATR for the pair currently is 109 pips. 

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EURUSD range trade

Bearish: We are currently @ 1.1762 after topping out. We have convergence for the downside move on the 60-minute chart.  We are looking for a continuation to the 0.382 Fibo @ 1.1698 for a possible bounce point to range.  A break down here would target the ATR target @ 1.1673.  Watch the USDX for direction. The ATR for the pair currently is 105 pips. 

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This is what I see in the Forex the week of August 9th , 2020: USDX, EU,UJ,GU,AU

Note: USDX: BULLISH: MACD has convergence for a continued MOVE UP.  We are looking for an a-b-c continuation to the 0.618 Fibo for a possible reversal point to start a 5th wave down.  We could also just stay in the current range. The USD pairs should prove it out when the market opens.  All of this could change in a heartbeat and will affect the currencies below. ATR’s are slightly higher than last week and are rising due to the USDX. 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

GBPUSD reversal

Bearish: We are currently @ 1.3155 ending a 3rd wave up. We have divergence for the downside move on the 60-minute chart.  We are looking for a Breakout and a continuation to the ATR target @ 1.3007-0 area and then a bounce on the support @ 1.2983. Watch the USDX for direction. The ATR for the pair currently is 110 pips per day.  

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GBPJPY Breakout

Bearish: We are currently @ 138.10 after a breakout. We have the start of convergence for the downside move on the 60-minute chart.  We are looking for a continuation to the ATR target @ 137.42 and maybe the 0.500 Fibo @ 137.11.  Watch the USDX for direction. The ATR for the pair currently is 94 pips per day.  

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EURUSD 4th wave continuation

Bearish: We are currently @ 1.1725 after a 3rd wave. We have convergence for the downside move on the 60-minute chart.  We are looking for an a-b-c continuation to the 0.500 Fibo @ 1.1538 for a possible reversal point.  Watch the USDX for direction. The ATR for the pair currently is 93 pips.  

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This is what I see in the Forex the week of July 19th , 2020: USDX, EU,UJ,GU,AU

Note: USDX: BULLISH: MACD has convergence for a continued MOVE UP.  We are looking for an a-b-c continuation to the 0.500 Fibo for a possible reversal point.  The USD pairs should prove it out when the market opens.  All of this could change in a heartbeat and will affect the currencies below. ATR’s are slightly higher than last week and are rising due to the USDX. BE SMART - TRADE WITH STOPS!!!!

$EURUSD

Image(s): 
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

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