Forex Strategies Bearish: We are currently @ 1.1239 in a range. If the breakout holds we are looking for a continuation to the ATR target @ 1.1177 area and then to the 0.618 Fibo @ 1.1166. Convergence is in play for the short. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 84 pips and it’s 90-day average is 88 pips.