Note: USDX is the top of a range.We are waiting. MACD is inconclusive at this time – just a little early. Below the 97.754 area we are bearish and above 98.054 we are tentatively bullish. I will show both possibilities below. Be aware that this could change in a heartbeat and will affect the currencies below. ATR’s are all mostly lower from last week.
What ProAct Traders See: Waiting: We are currently @ 1.1243. A couple of different scenarios:1:Bullish: a break above 1.1300 look for a move back to the range top @ 1.1400-50. 2: Bearish:a break below 1.1226 would most likely target the @ 1.1184 range bottom. We could get a break down of the range to the 1.270 Fibo @ 1.1113.Watch the USDX for direction. The ATR for the the pair currently is 47 pips.