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Scott Barkley

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!!!!

$EURUSD

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.

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$USDJPY

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.

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$GBPUSD

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.

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$AUDUSD

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.

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