Scott Barkley's blog | ProAct Traders

Bearish: We are currently @ 1.2850 after a pullback. We are looking for a continuation to the ATR target @ 1.2800 and then the 0.618 Fibo @ 1.2751. Watch the USDX for direction. The ATR for the pair currently is 140 pips per day.

Image(s):

This is what I see in the Forex the week of September 20th , 2020: USDX, EU,UJ,GU,AU

Note: USDX: Waiting: We are in the bottom of a range in a flag pattern and MACD has convergence for a MOVE DOWN. We are also at a significant bounce point and could also just bounce up and 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 down from last week and will change again on Sunday – use as a reference. BE SMART - TRADE WITH STOPS!!!!

$EURUSD

Image(s):

GBPUSD breakout

Bearish: We are currently @ 1.2879 after a channel breakout. We are looking for a continuation to the ATR target @ 1.2825 and then the Day chart support @ 1.2812. Watch the USDX for direction. The ATR for the pair currently is 143 pips per day.

Image(s):

GBPAUD reversal

Bullish: We are currently @ 1.7705 in a reversal. We are looking for a continuation to the ATR target @ 1.7798 possibly a little higher to the resistance. Watch the USDX for direction. The ATR for the pair currently is 146 pips per day.

Image(s):

Trade of the week

video is here

EURJPY Range opportunity?

Bearish: We are currently @125.37 in a range. We are looking for a continuation to the ATR target/range bottom @ 124.43. Watch the USDX for direction. The ATR for the pair currently is 96 pips per day.

Image(s):

GBPJPY Breakout?

Bullish maybe: We are currently @1.2932 in a nice channel. We are poised for a breakout (although we could have one more move to the day chart bottom @ 134.95). We are looking for a continuation to the ATR target @ 137.00 if we get the Breakout. COT reports major longs on all GBP pairs. Watch the USDX for direction. The ATR for the pair currently is 150 pips per day.

Image(s):

This is what I see in the Forex the week of September 13th, 2020: USDX, EU,UJ,GU,AU

Note: USDX: Waiting: We are in a triangle pattern and MACD has convergence for a MOVE DOWN. We could also just bounce up and 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 roughly the same as last week and will change again on Sunday – use as a reference. BE SMART - TRADE WITH STOPS!!!!

$EURUSD

Image(s):

GBPUSD continuation

Bearish: We are currently @1.2932 in a nice channel. We are looking for a continuation to the ATR target @ 1.2869 and later to the day chart bottom @ 1.2812. Watch the USDX for direction. The ATR for the pair currently is 133 pips per day.

Image(s):

Pages