Bearish: We are currently @ 148.17 in a big channel and in the start of a 3rd wave. We are looking for a continuation to the ATR Target @ 147.13 with a further target the 1.000 Fibo @ 146.43 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 146 pips per day and it’s 180 day average is 157 pips per day. USDX is currently moving up.