This is what I see in the Forex the week of January 12th, 2020: USDX, EU,UJ,GU,AU

Note: USDX: Bullish: We are anticipating a pullback here and then the continuation of dollar strength after the bounce on the bottom.  We have divergence on the 60 min chart (see inset) which is bearish for now. Be aware that this could change in a heartbeat and will affect the currencies below. ATR’s are roughly the same as last week except the GPBUSD (big drop).  BE SMART - TRADE WITH STOPS!!!!

$EURUSD

What ProAct Traders See:  Bullish: We are currently @ 1.1121 in a Range.  We are looking to bounce to the double top @ 1.1239. Look for a reaction there.  A continuation down targets the range bottom @ 1.0863. Watch the USDX for direction. The ATR for the pair currently is only 49 pips.

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$USDJPY                             

What ProAct Traders See: Bearish: We are currently @ 109.51.  We are looking to turn and move to the slope support area near 108.50.  Watch for the reaction there.  Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 53 pips.

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$GBPUSD                           

What ProAct Traders See: Waiting: We are currently @ 1.3057 in a wedge. A couple of different scenarios:  1:  Bullish: a breakout up look for a move back to the range top @ 1.3500. 2: Bearish:  A breakout down would target the range bottom @ 1.2790 area. Watch the USDX for direction and Brexit news. The average daily true range (ATR) for the pair is 115 pips.

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$AUDUSD

What ProAct Traders See:  Bullish: We are currently sitting @ 0.6906 inside a tight range.  We are looking for a move to the 0.6950 area.  Above that target the range top @ 0.7032.   Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 40 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