Bearish: We are currently @ 1.1234 in a channel. We are looking for a move to the ATR target @ 1.1087 with a further target @ the S5 @ 1.1063. Watch the USDX for any change in direction. The ATR for the pair currently is 230 pips per day and its 180 day average is 184 pips per day. USDX is currently UP.