This is what I see in the Forex the week of September 2nd, 2019: USDX, EU,UJ,GU,AU

Note: USDX: We cautiously bullish 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 reaction at this top for a move to the downside or to the upside. We have convergence for a continuation on the 60-minute MACD (inset) for the up move but we are at a significant top. Be prepared for either reaction. Below is based on the up move. Be aware that this could change in a heartbeat and will affect the currencies below. ATR’s are lower than last week.

REMINDER: USA Holiday on September 1st – banks are closed

$EURUSD

What ProAct Traders See: Bearish: We are currently @ 1.1091 in the bottom of a range. We are looking for a short pullback and then a continuation to the 1.618 Fibo @ 1.0789 area and bounce there. If USDX flips look for the move back to the 0.500 Fibo. Watch the USDX for direction. The ATR for the pair currently is only 53 pips.

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$USDJPY

What ProAct Traders See: Bullish: We are currently @ 106.27 in a range. We are looking to continue the channel to the 0.786 Fibo @ 108.46 area. Note the 107.71 area for a pullback. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 66 pips.

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$GBPUSD

What ProAct Traders See: Bearish: We are currently @ 1.2165 in a possible 5th wave.. We are looking to go down to the range bottom. And here is the test. If we continue down, it will be a 5th wave and looking for 1.1917 this week. Watch the USDX for direction. The average daily true range (ATR) for the pair is 92 pips.

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$AUDUSD

What ProAct Traders See: Bearish: We are currently sitting @ 0.6737 inside a tight range. We are looking for a continuation to the 1.618 Fibo @ 0.6428 IF USDX stays northbound. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 45 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