EUR/USD Channel trade?

Scott Barkley ProAct Traders

Bearish: Currently we are @ 1.1147 in a Range and just finished a pullback (which is your friend). We are looking for a continuation initially to the 0.786 Fibo @ 1.1109 and then to the ATR Target @ 1.1079. The average daily true range (ATR) for the pair currently is 62 pips and its 180-day ATR is 60 pips a day.

Author

Scott Barkley

ProAct Traders

Scott Barkley is the President of ProAct Traders LLC located in Round Rock, Texas. Scott graduated from the institute For Latin American Studies in Cuernavaca, Mexico.

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