Forex Strategy is Bearish: We are currently @ 2.0216 in a channel and 5th wave. Below 2.0200, we are looking for a continuation to the ATR Target @ 2.0144 area. A further Target is the 2.618 Fibo @ 2.0136. We have convergence on the hourly. USDX is currently up. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 109 pips per day and it’s 90-day average is 118 pips per day.
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