Note: PPI Positive Today!
Forex Strategy is Bearish: We are currently @ 159.99 after a double top. If we get the breakdown here, we are looking for a continuation to the ATR target @ 158.87 area and then to the S4 @ 158.38. We have convergence in play for the move. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 170 pips and it’s 90-day average is 160 pips per day.