This is what I see in the Forex the week of November 3rd, 2019: USDX, EU,UJ,GU,AU

USDX: Bearish to bullish: We are anticipating the continuation of the down move BUT we are close to the range bottom. We have divergence on the 60 min chart (see inset) which is potentially bullish. Be aware that this could change in a heartbeat and will affect the currencies below. ATR’s are lower than last week – not surprising with FOMC and NFP in play.

USA reverts back for Daylight savings time – be aware!

$EURUSD

ProAct Traders See: Bearish to bullish: We are currently @ 1.1166 in an ascending wedge to the upside. We are looking to continue to the 1.270 Fibo @ 1.1260 and then short. The overall target is the 1.1029 area. Watch the USDX for direction. The ATR for the pair currently is only 51vpips.

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$USDJPY

What ProAct Traders See: Bearish to bullish: We are currently @ 108.19 in a range and in a symmetrical triangle pattern. We are looking for an initial move to the 1.618 Fibo/slope support @ 107.48-107.27. Decision time here. A bounce look to the square up @ 108.65. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 41 pips.

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$GBPUSD

What ProAct Traders See: Bearish: We are currently @ 1.2939 at a top with divergence for the down move. We are anticipating a small move to the op @ 1.3029 and then down to the 0.500 Fibo @ 1.2604. Watch the USDX for direction and Brexit news. The average daily true range (ATR) for the pair is 121 pips.

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$AUDUSD

What ProAct Traders See: Bearish: We are currently sitting @ 0.6914 inside a tight range and in a symmetrical triangle. We may have a move to the 1.270 Fibo @ 0.6981 before a reversal (we have divergence on the 60 min) and then looking to continue through to the square ups in the 0.6750-0.6790 area. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 43 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