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This is what I see in the Forex the week of June 14th, 2020: USDX, EU,UJ,GU,AU

Note: USDX: Bullish: We have dollar strength for a change. The USD pairs should prove it out when the market opens.  All of this could change in a heartbeat and will affect the currencies below. ATR’s are significantly higher than last week. BE SMART - TRADE WITH STOPS!!!!

$EURUSD

What ProAct Traders See:  Bearish: We are currently @ 1.1255 in the start of a new  channel.  We are looking to start a trending move to the downside to S5 @ 1.1050 area. Watch the USDX for direction. The ATR for the pair currently is 94 pips.

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$USDJPY 

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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

EURJPY continuation

Bearish: Currently we are @ 121.40.  We have convergence to the downside on the 60-minute chart. We are looking to continue to the ATR target @ 120.70/60 area  and then  later a continuation to the range bottom @ 119.48.  We expect a bounce there. The average daily true range (ATR) for the pair currently is 118 pips.

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GBPAUD range trade

Bearish: Currently we are @ 1.8223 after the pullback.  We have the start of convergence to the downside on the 60-minute chart. We are looking to continue to the ATR target @ 1.8112  and then a continuation to the range bottom @ 1.8052.  We expect a bounce there. The average daily true range (ATR) for the pair currently is 171 pips.

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EURJPY reversal

Bearish: Currently we are @ 123.47 after topping out.  We have convergence to the downside on the 60-minute chart (see inset).  We are looking to continue to the ATR target @ 122.99 but are anticipating a large move to the square up @116.50 area.  The average daily true range (ATR) for the pair currently is 103 pips.

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This is what I see in the Forex the week of June 7th, 2020: USDX, EU,UJ,GU,AU

Note: USDX: Bearish: We are still in a dollar weakness mode BUT the strong unemployment numbers may help reverse that. The USD pairs should prove it out when the market opens.  All of this could change in a heartbeat and will affect the currencies below. ATR’s are much the same as last week. BE SMART - TRADE WITH STOPS!!!!

$EURUSD

Image(s): 
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

GBPUSD continuation

Bullish: Currently we are @ 1.2568 after a pullback.  IF we can break the 1.618 Fibo @1.2601 we are looking for the ATR target @ 1.2687.  The average daily true range (ATR) for the pair currently is 111 pips.

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EURUSD reversal

Bearish: Currently we are @ 1.1192 at the range top in a rising wedge which is bearish.  If we can break the wedge, A break down here look for the ATR target @ 1.1094.  The average daily true range (ATR) for the pair currently is 80 pips.

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EURNZD decision time

Waiting: Currently we are @ 1.7674 in a range.  Two scenarios: Bullish:  a bounce here look to the 0.500 Fibo @ 1.7802 2: Bearish: A break down here look for the ATR target @ 1.7516.  The average daily true range (ATR) for the pair currently is 173 pips.

 

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