Bearish: Currently we are @ 1.7463. We have convergence to the downside on the 60-minute chart. We are looking to continue to the ATR target @ 0.6426 area and then later a continuation to the S6 @ 1.7043 to complete the 5th wave. We expect a bounce there. The average true range (ATR) for the pair currently is 198 pips per day.