atr

ATR

ATR's Average True Range

What is ATR? 

$AUDUSD –downside continuation?

Currently we are at 0.9358 and sitting on the 618 Fibo. WE anticipate continued downside first to the .786 Fibo @ 0.9288 and then the double bottom. The big target is the S5 at the 0.9154. The ATR (Average True Range) for the pair currently is 102 pips.

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$USDCHF –continuation?

Currently we are at 1.0198 and sitting on the S4 after taking out the 0.618 Fibo.   The target is the 1.0100 which is the .786 Fibo. The big target is the S5 at the 1.0454. The ATR (Average True Range) for the pair currently is 122 pips.

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$USDJPY –where to?

Currently we are at 95.12  and working hard to fill the gap.   The target up after the gap is filled is the .214 fibo/resistance @ 95.96. The big target is the R4 Top at the 96.41.  If the gap is filled and the currency tanks look to the double bottom again @ 94.08.  The ATR (Average True Range) for the pair currently is 97 pips.

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$GBPJPY –continuation

Currently we are at 145.65 @ the .214 Fibo.   The overall target is the R7 @ 147.74.  Expect a pullback and then a move above 145.85.  A good target for today (triple witching day) would be the 146.00 before the square up.  The ATR (Average True Range) for the pair currently is 155 pips.

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$USDCHF –key break point

Currently we are at 0.9395 and we have positive NFP reaction.   The target is the 0.9466 area  if the bulls come above 0.9400.  The big target is the 1.618 Fibo extension at 0.9494.  The ATR (Average True Range) for the pair currently is 53 pips.

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$GBPUSD –watch the tops

Currently we are at 1.6160 and have just broken out of the R4 Resistance area.   The target is the 1.6200 and will look for bulls to come in if we break that.  The big target is theR5 Top  at the 1.6305 area but with NFP this week might be hard to reach it until NFP.  The ATR (Average True Range) for the pair currently is 81 pips.

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