Scott Barkley's blog | ProAct Traders

GBPUSD Channel Continuation Opportunity

Bearish: Currently we are @ 1.3200 and in a range and a nice channel. IF we can break support here, we are looking for the continuation to the ATR target @ 1.3133 and the overall target is @ 1.2950. FOMC today so watch for a quick move before of this to come after FOMC. The average daily true range (ATR) for the pair currently is 51 pips.

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AUDUSD channel up

Bullish: Currently we are @ 0.7103 and in a range. IF we can break resistance here, we are looking for the continuation to ATR target @ 0.7145 and the a possible small continuation to the 0.214 Fibo @ 0.7167. The average daily true range (ATR) for the pair currently is 51 pips.

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EURJPY channel up

Bullish: Currently we are @ 126.66 and in a range. IF we can break FIBO resistance here, we are looking for the continuation to range top @ 127.60. The average daily true range (ATR) for the pair currently is 79 pips.

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This is what I see in the Forex the week of March 17th , 2019: USDX, EU,UJ,GU,AU

Note: USDX is in a range. We are currently waiting as MACD is not clear yet. Below 96.828 we are bearish and above 97.215 we are bullish. 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 the same except for GBPUSD which is affected by the Brexit voting.

$EURUSD

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EURAUD channel up

Bullish: Currently we are @ 1.6032 and in a channel in the range. IF we can break resistance here, we are looking for the continuation to range top @ 1.6111. The overall target is 1.6206 area. The average daily true range (ATR) for the pair currently is 108 pips

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EURUSD channel starting up

Bullish: Currently we are @ 1.1298 and back in the range. IF we can break resistance here, we are looking for the continuation to 0.618 Fibo @ 1.1385. The overall target is 1.1500 area. The average daily true range (ATR) for the pair currently is 60 pips.

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EURJPY 5th wave next?

Currently we are @ 125.32 at the end of a 4th corrective wave. IF we can break here, we are looking for the continuation to S3 @ 124.90. The overall target is the S4 @ 123.44 area. The average daily true range (ATR) for the pair currently is 77 pips.

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CADJPY bear flag breakout

Currently we are @ 82.69 trying to break out of a bear flag pattern. IF we can break here, we are looking for the continuation to 82.00. The overall target is the 4.236 Fibo @ 81.39 area. The average daily true range (ATR) for the pair currently is 64 pips.

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This is what I see in the Forex the week of March 10th , 2019

Note: USDX is in a range. We are currently bearish after the putting in the top . Watch the reaction @ the 96.54 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 slightly lower.

$EURUSD

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