This is what I see in the Forex the week of March 1st , 2020: USDX, EU,UJ,GU,AU
Note: USDX: Bearish: We are anticipating a continuation to the 0.786 Fibo area. Be aware that this could change in a heartbeat and will affect the currencies below. ATR’s are roughly the same except the EURUSD is higher than last week. BE SMART - TRADE WITH STOPS!!!!
What ProAct Traders See: Bullish: We are currently @ 1.1038 in a range after breaking out of the falling wedge. We are looking to continue to the R5 resistance @ 1.1156 and then the range top @ 1.1250. Watch the USDX for direction. The ATR for the pair currently is 55 pips.
…………………………………………………
What ProAct Traders See: Bearish: We are currently @ 107.85 making the turn. We are looking to continue to the Day support @ 106.80 area. Watch for the reaction there. If it breaks, look for the 0.786 Fibo/S6 area @ 108.33. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 69 pips.
………………………………………………..
What ProAct Traders See: Bullish: We are currently @ 1.2821 in a channel and in a range. We are looking to continue UP to the 0.382 Fibo @ 1.3119 and after a short pullback continue to the 1.3200 area. Watch the USDX for direction and any Brexit news. The average daily true range (ATR) for the pair is 85 pips.
…………………………………………………
ProAct Traders See: Bullish: We are currently sitting @ 0.6514 after a day chart bounce. We are looking to continue to the 0.382 Fibo @ 0.6730 area after constructing a channel to get there. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 45 pips.
Graphics - click to open hit ESC to come back