Scott Barkley's blog

Trade of the week

GBPCHF Range opportunity

Bullish: We are currently @ 1.1990 in a range. We are looking for the continuation to the ATR Target @ 1.2060 area with a further target (0.214 Fibo) @ 1.2099.  Watch the USDX for any change in direction. The ATR for the pair currently is 83 pips per day. 

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AUDUSD channel opportunity

Bearish: We are currently @ 0.7360  in a channel. We are looking for the continuation to the ATR Target @ 0.7317 area with a further target (0.786 Fibo)  @ 0.7280.  Watch the USDX for any change in direction. The ATR for the pair currently is 56 pips per day. 

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GBPUSD channel opportunity

Bearish: We are currently @ 1.3334in a channel. We are looking for the continuation to the ATR Target @ 1.3232 area with a further target @ 1.3179.  Watch the USDX for any change in direction. The ATR for the pair currently is 90 pips per day. 

 

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GBPUSD channel opportunity

Bullish: We are currently @ 1.3340 in a channel. We are looking for the continuation to the ATR Target @ 1.3427 area with a further target @ 1.3489.  Might have trouble since it is clearly in the top of the channel but would be sweet if it goes. Watch the USDX for direction. The ATR for the pair currently is 93 pips per day. 

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EURUSD channel opportunity

Bullish: We are currently @ 1.1909 in a channel. We are looking for the continuation to the ATR Target @ 1.1969 area with a further target @ 1.2000.  Watch the USDX for direction. The ATR for the pair currently is 82 pips per day. 

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Trade of the week

EURJPY Range opportunity

Bullish: We are currently @ 124.10 in a range. We are looking for the continuation to the ATR Target @ 124.69 area with a further target @ 125.00.  Watch the USDX for direction. The ATR for the pair currently is 85 pips per day

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GBPAUD channel opportunity

Bullish: We are currently @ 1.8272 in a channel. We are looking for the continuation to the ATR Target @ 1.6348 area with a further target @ 1.18402.  Watch the USDX for direction. The ATR for the pair currently is 144 pips per day. 

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This is what I see in the Forex the week of November 22nd , 2020: USDX, EU,UJ,GU,AU

Note: USDX: Waiting: We are at a significant Support and (1H) MACD has convergence for a MOVE up. All of this could change in a heartbeat and will affect the currencies below. ATR’s overall are lower than last week and will change again on Sunday – use as a reference. BE SMART - TRADE WITH STOPS!!!!
USA Biggest holiday is this week so expect a sluggish market.
$EURUSD
What ProAct Traders See: Waiting: We are currently @ 1.1859 in a triangle in a range.
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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

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