Forex Strategy is Bullish: We are currently @ 1.2530 in a 5th wave in a channel. We are looking for a quick bounce and then a continuation to the ATR target @ 1.2595 area, with an overall target the 1.000 Fibo @ 1.2608. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 109 pips per day and it’s 90-day average is 97 pips per day.