USDX: Bearish: We are anticipating the continuation of the down move and we have a long way to the bottom. We have convergence on the 60 min chart (see inset) which is bearish. Be aware that this could change in a heartbeat and will affect the currencies below. ATR’s are roughly the same as last week.
What ProAct Traders See: Bullish: We are currently @ 1.1055 in the start of a channel. We are looking to continue to the 0.214 Fibo @ 1.1163 and then maybe to the range top @ 1.1250. Watch the USDX for direction. The ATR for the pair currently is only 44 pips.