Bearish: We are currently @ 1.9904 at a significant top in a channel. We are looking for a move to the ATR target @ 1.9533 with a further target the 2.618 Fibo @ 1.9274. We have divergence on the hourly. Target up is 2.0072 if it reverses. Watch the USDX for any change in direction. The ATR for the pair currently is 291 pips per day and its 180 day average is 245 pips per day. USDX is currently down.