This is what I see in the Forex the week of August 11th, 2019: USDX, EU,UJ,GU,AU

Note: USDX: We are mostly Bearish based on the current chart which may be totally opposite when the Market opens on Monday due to after-hours trading. We are looking for a quick bounce to set a top for a channel to the downside. We have NO DIRECTION for any continuation on the 60-minute MACD (inset). Until that is know the Dollar Pairs will have difficulty moving in any direction. Be aware that this could change in a heartbeat and will affect the currencies below. ATR’s are slightly higher than last week.

$EURUSD

What ProAct Traders See: Waiting: We are currently @ 1.1201 in a symmetrical triangle and a range. A couple of different scenarios: 1: Bullish: a break here look for a move back to the range top @ 1.1400. 2: Bearish: A break down here would most likely go to the range bottom @ 1.1000 area. Watch the USDX for direction. The ATR for the pair currently is only 59 pips.

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$USDJPY

What ProAct Traders See: Waiting: A couple of different scenarios: 1: Bullish: a break up here look for a move back to the 0.786 Fibo @ 108.45. 2: Bearish: A break down here would most likely go to the 1.618 Fibo @ 102.77 area. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 79 pips.

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$GBPUSD

What ProAct Traders See: Bearish: We are currently @ 1.2026 in the bottom of a channel. We are looking to bounce and continue down to the 1.270 Fibo @ 1.1858. Watch the USDX for direction. The average daily true range (ATR) for the pair is 90 pips.

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$AUDUSD

What ProAct Traders See: Bullish: We are currently sitting @ 0.6787 just inside a tight range. It appears we have bounced and have printed a flag pattern which is bullish. We are looking to continue to the 0.786 Fibo @ 0.6996. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 53 pips.

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What I See in the Forex
What I See in the Forex
What I See in the Forex
What I See in the Forex
What I See in the Forex