This is what I see in the Forex the week of January 16th, 2022: USDX, EU,UJ,GU,AU

NOTE:  Martin Luther King Holiday in the USA.  Banks are closed and so are we.

Note: USDX: Bullish – A couple of different scenarios:  1:  Bullish: a bounce here, look for a move back to the 0.382 Fibo @ 96.314. 2: Bearish:  A continuation here validate that a 4th wave is in place and would most likely head to the 94.500. 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 slightly higher than last week. BE SMART - TRADE WITH STOPS!!!!

$EURUSD

What ProAct Traders See:  Bearish for now: We are currently @ 1.1416.  We are looking for a move down and if we break slope support it most likely target equilibrium @ 1.1306. Watch the USDX for reversal and direction. The ATR for the pair currently is 67 pips.

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$USDJPY 

What ProAct Traders See: Bullish: We are currently @ 114.21. We are currently out of the  Falling wedge. The target is the 0.214 Fibo @ 115.74 area. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 58 pips. 

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$GBPUSD

What ProAct Traders See: Bearish: We are currently @ 1.3681 after taking out the day chart top. We are looking for a breakdown at the 0.500 Fibo @ 1.3461 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 75 pips.

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$AUDUSD 

What ProAct Traders See:  Bearish:  A continuation here would target the 0.786 Fibo @ 0.7062. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 58 pips. 

CAUTION IS URGED - TRADE WITH STOPS!!!!!

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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