Note: Flash Services PMI today
Bearish: We are currently @ 0.924 in a triangle in a range. IF we get the breakdown, we are looking for continuation to the S3 @ 0.9188 area and then the ATR target @0.9153. We have convergence in play for the move which is largely waiting for the Fundy this AM. Watch the USDX for direction. The average daily true range (ATR) for the pair is 78 pips and it’s 180 day average is 84 pips per day. USDX is currently threatening down.