Waiting: We are currently @ 128.20 in a channel up but also in a sideways move. Two scenarios: 1: Bullish: a move to the resistance near 129.50 and possible continuation to the ATR targets @ 129.67. 2: Bearish: A break down here would set up the move to the ATR target @ 127.45. Watch the USDX for any change in direction. The ATR for the pair currently is 114 pips per day and its 180 day average is 99 pips per day. USDX is currently up but could be topping out at the time of this post.
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