This is what I see in the Forex the week of August 4th, 2019: USDX, EU,UJ,GU,AU

Note: USDX: We are 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 convergence for this continuation of the 60 minute MACD (inset). Be aware that this could change in a heartbeat and will affect the currencies below. ATR’s are higher than last week.

$EURUSD

What ProAct Traders See: Bullish: We are currently @ 1.1109 after a bounce at the bottom of the range. We are looking for the continuation to the 0.500 Fibo@ 1.1219. Looking for the 0.214 Fibo this week @ 1.1330 area. A reaction to the downside at the slope resistance here would signal a continuation to the 1.100 before bouncing again. Watch the USDX for direction. The ATR for the pair currently is only 54 pips.

­­­…………………………………………………

$USDJPY

What ProAct Traders See: Waiting: We are currently @ 106.60 in the bottom of a range. With USDX down we should see the continuation to the downside BUT…we have divergence in play for the bounce. Above 107.00 look to continue back to the range top @109.99. A continuation to the downside look for the 1.618 Fibo @ 105.21. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 61 pips.

………………………………………………..

$GBPUSD

What ProAct Traders See: Bearish: We are currently @ 1.2160 in the bottom of a channel. We are looking to bounce and continue down to the 1.270 Fibo @ 1.1874. Watch the USDX for direction. The average daily true range (ATR) for the pair is 96 pips.

…………………………………………………

$AUDUSD – A great smooth currency for Newbie’s!

What ProAct Traders See: Bullish: We are currently sitting @ 0.66822 just outside a tight range. It appears we have bounced and we are looking to continue to the 0.500 Fibo @ 0.6923. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 43 pips.

Graphics - click to open hit ESC to come back

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