Bearish: We are currently @ 1.1565 in a 5th wave and a trend. IF we can break the slope support we are looking for a final move to the ATR Target @ 1.1382-1405 area and then a reversal. We have convergence in play as well as USDX appears to be topping out. Watch the USDX for any change in direction. The ATR for the pair currently is 116 pips per day and its 180 day average is 118 pips per day. USDX is currently up.