Bullish: We are currently at 1.6360 after the breakout of the bear channel We are looking for a continuation to the ATR @ 1.6444 with the overall target the 2.618 Fibo @ 1.6525.
Watch the USDX for direction. The average daily true range (ATR) for the pair is 131 pips per day and it’s 90 day average is 133 pips per day. USDX is currently moving up.
