Bearish: We are currently @ 1.2287 in a range and a flag pattern that is bearish. We are looking for an initial move to the ATR target @ 1.2190 area and then the 1.2150. Watch the USDX for any change in direction. The ATR for the pair currently is 100 pips per day and its 180 day average is 94 pips per day. USDX is currently trying to go up at the time of this post.
The 4 Things you must know in the Forex: http://proacttraders.com/ebook