Scott Barkley's blog

GBPNZD 3rd wave opportunity

Bearish:  We are currently @ 1.8993 in a 3rd wave.  We have convergence in play for the down move. We are looking for a move to the ATR Target @ 1.8857 area. Watch for the bounce in that area.  Watch the USDX for any change in direction. The ATR for the pair currently is 134 pips per day. 

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Trade of the week

AUDUSD reversal

Bearish:  We are currently @ 0.7915 after topping out.  The USDX has flipped and we have divergence in play for the down move. We are looking for a move to the ATR Target @ o.7850 area. A continuation would target the former day chart top @ 0.7798.  Watch the USDX for any change in direction. The ATR for the pair currently is 60 pips per day. 

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GBPUSD reversal

Bearish:  We are currently @ 1.4068 after topping out at 1.4099.  The USDX has flipped and we have divergence in play for the down move. We are looking for a move to the ATR Target @ 1.3974 area. A continuation would target the square up @ 1.3880.  Watch the USDX for any change in direction. The ATR for the pair currently is 86 pips per day. 

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GBPJPY reversal

Bearish:  We are currently @ 147.94 just breaking out of a Rising wedge which is bearish. We are looking for a move to the ATR Target @ 146.81 area. A continuation would target the 0.500 Fibo @ 146.17.  Watch the USDX for any change in direction. The ATR for the pair currently is 87 pips per day. 

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This is what I see in the Forex the week of February 21st, 2021: USDX, EU,UJ,GU,AU

Note: USDX: Bearish overall: We are in a channel in a arrange inside a large range. We have the possible start of convergence in play for the down move.  USDX has been oscillating up and down in the smaller range so bear that is mind. ATR’s overall are slightly 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
What I See in the Forex

EURAUD continuation

Bearish:  We are currently @ 1.5527 in a channel. We are looking for a move to the ATR Target @ 1.5440 area. A continuation would target the 1.618 Fibo  @ 1.5412.  Watch the USDX for any change in direction. The ATR for the pair currently is 95 pips per day. 

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GBPAUD continuation

Bullish:  We are currently @ 1.7927 in a range and a channel We are looking for a move to the ATR Target @ 1.8039 area. A continuation would target the range top @ 1.8070.  Watch the USDX for any change in direction. The ATR for the pair currently is 113 pips per day. 

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GBPAUD continuation

Bullish:  We are currently @ 1.7927 in a range and a channel We are looking for a move to the ATR Target @ 1.8039 area. A continuation would target the range top @ 1.8070.  Watch the USDX for any change in direction. The ATR for the pair currently is 113 pips per day. 

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