Send me real-time posts from this site at my email
Scott Barkley

This is what I see in the Forex the week of September 22nd, 2019: USDX, EU,UJ,GU,AU

USDX: We are waiting based on the current chart since at this point it is inconclusive. The chart may be totally opposite when the Market opens on Monday due to after-hours trading. We have possible convergence (early) for a continuation on the 60-minute MACD (inset) for the down move and at the bottom of the channel. We continue to make lower highs, so bias is to the downside. Currencies below are very difficult to forecast this week. Be aware that this could change in a heartbeat and will affect the currencies below. ATR’s are roughly the same as last week with the exception of the GBPUSD.

$EURUSD

What ProAct Traders See: Waiting: We are currently @ 1.1020 just out of a Symmetrical Triangle in a range. A couple of different scenarios: 1: Bullish: a bounce here, look for a move back to the 0.786 Fibo @ 1.1309. 2: Bearish: A continuation here would most likely bounce on the triple bottom of the range. Watch the USDX for direction. The ATR for the pair currently is only 69 pips.

­­­…………………………………………………

$USDJPY

What ProAct Traders See: Bearish: We are currently @ 107.75 in a range and a channel. We are looking to continue here (Convergence on the 60 min) to the 0.618 Fibo @ 106.11 area. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 46 pips.

………………………………………………..

$GBPUSD

What ProAct Traders See: Waiting: We are currently @ 1.2471 in a channel and a range. A couple of different scenarios: 1: Bullish: a bounce here look for a move up to the 2.270 Fibo extension @ 1.2721. 2: Bearish: A breakout here would most likely take out the square up @ 110.00 and then a bounce. Watch the USDX for direction and Brexit news (could send it up). The average daily true range (ATR) for the pair is 116 pips.

…………………………………………………

$AUDUSD

ProAct Traders See: Bearish: We are currently sitting @ 0.6776 inside a tight range and an expanding wedge. We are looking for a continuation to the range bottom @ 0.6996 and then the .382 Fibo @ 0.6832. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 41 pips.

Graphics - click to open hit ESC to come back

Welcome!!! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue