This is what I see in the Forex the week of January 31st , 2021: USDX, EU,UJ,GU,AU

Note: USDX: Bullish: We are in a channel. We have the possible start of divergence in play for the down move.  The Question is : is this a 5th wave up for the sell or the start of a bigger move up? ATR’s overall are higher than last week except for the GBPUSD (-20) and will change again on Sunday – use as a reference. BE SMART - TRADE WITH STOPS!!!!

$EURUSD

What ProAct Traders See:  Bearish: We are currently @ 1.2135 in a range but back in the channel. A continuation here would most likely target the S5/0.618 Fibo @ 1.1976. Watch the USDX for direction. The ATR for the pair currently is 72 pips per day.

¬¬¬…………………………………………………

$USDJPY 

What ProAct Traders See: Bullish: We are currently @ 104.75 in a channel in a range.  We are anticipating a move to the range top @ 105.75 area. We have convergence on the 1 H. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 44 pips. 

……………………………………………….. 

$GBPUSD

What ProAct Traders See: Bearish: We are currently @ 1.3699 in a range setting up a breakout down. We are looking for a continuation to the S4/0.500 Fibo @ 1.3527 and possibly the support area @ 1.3450 area. Brexit info affecting this pair a lot.   Watch the USDX for direction. The average daily true range (ATR) for the pair is 103 pips.

…………………………………………………

$AUDUSD 

What ProAct Traders See:  Bearish:  We are currently sitting @ 0.7642 in a range and after a breakout. We are looking for a continuation to the range bottom @ 0.7446.  We have convergence for the move on the 1 H. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 78 pips. 

Chart 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