Scott Barkley's blog

EURGBP: Channel Continuation

Bearish:  Currently we are at 0.8855 in a 3rd wave.  We are looking for a move to the ATR Target @ 0.8718 and then watch for a 4th wave bounce.  The average daily true range (ATR) for the pair currently is 212 pips.  WATCH THE USDX for more clues.  

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GBPAUD: Channel Continuation

Bullish:  Currently we are at 2.0287.  IF we can break this resistance, we are looking for a move to the R7 @ 2.0500 and then ATR Target @ 2.0730 area.  The average daily true range (ATR) for the pair currently is 535 pips.  WATCH THE USDX for more clues.  

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This is what I see in the Forex the week of March 29th , 2020: USDX, EU,UJ,GU,AU

Note: USDX: Bearish: Working a nice channel with convergence in play. Watch for the correction. Be aware that this could change in a heartbeat and will affect the currencies below. ATR’s are drastically higher than last week AGAIN. BE SMART - TRADE WITH STOPS!!!!

$EURUSD

What ProAct Traders See: Bullish: We are currently @ 1.1136 just out of a range. We have convergence on the 60 min chart. We are looking to continue for a bit of consolidation before resumption to the top @1.1500. Watch the USDX for reversal and direction. The ATR for the pair currently is 200 pips.

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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

EURGBP: Channel Continuation

Bearish:  Currently we are at 0.9158.  IF we can break this support, we are looking for a move to the ATR Target @ 0.8981 area.  Watch for a bounce there – it is the range bottom. The average daily true range (ATR) for the pair currently is 196 pips.  WATCH THE USDX for more clues.  

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Trade of the week

EURGBP: Channel Continuation

Bearish:  Currently we are at 0.9239.  IF we can break this support, we are looking for a move to the ATR Target/0.618 Fibo @ 0.9145 area and maybe a continuation to the 0.786 Fibo @ 0.9077.  The average daily true range (ATR) for the pair currently is 179 pips.  WATCH THE USDX for more clues

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GBPCHF: CHANNEL CONTINUATION

Bearish:  Currently we are at 1.1421.  IF we can break this support, we are looking for a move to the ATR Target @ 1.1292 area and maybe a continuation to the 0.214 Fibo @ 1.1246.  The average daily true range (ATR) for the pair currently is 210 pips.  WATCH THE USDX for more clues

 

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

Note: USDX: Bullish to Bearish: Working a nice channel with divergence in play.  Watch for the correction.  Be aware that this could change in a heartbeat and will affect the currencies below. ATR’s are drastically higher than last week. BE SMART - TRADE WITH STOPS!!!!

$EURUSD

What ProAct Traders See:  Bearish to Bullish: We are currently @ 1.0696 just out of a range.  We have convergence on the 60 min chart. We are looking to continue to the 1.270 Fibo/S7 support @ 1.0500-1.0564. Watch the USDX for reversal and direction. The ATR for the pair currently is 183 pips.

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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

Trade of the week

EURJPY: CHANNEL CONTINUATION

Bearish:  Currently we are at 117.83.  IF we can break this support, we are looking for a move to the ATR Target @ 116.67 area and maybe a continuation to the day chart bottom @ 115.94.  The average daily true range (ATR) for the pair currently is 198 pips.  WATCH THE USDX for more clues.  

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