This is what I see in the Forex the week of January 23th, 2022: USDX, EU,UJ,GU,AU

NOTE:  FOMC this Wednesday

Note: USDX: Sideways – A couple of different scenarios:  1:  Bullish: a bounce here, look for a move to the R6 @ 96.774. 2: Bearish:  A breakdown here would most likely head to the 95.500. 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:  Waiting: We are currently @ 1.1343 is a triangle that is USUALLY BEARISH.  A couple of different scenarios:  1:  Bullish: a bounce here, look for a move to the range top @ 1.1483. 2: Bearish:  A breakdown here would most likely head to the range bottom @ 1.1222. Watch the USDX for reversal and direction. The ATR for the pair currently is 69 pips.

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$USDJPY 

What ProAct Traders See: Bullish: We are currently @ 113.70 in a channel and a flag. We are looking to continue to the S4 target @ 112.73 area. Be aware we are close to a bounce point as well. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 68 pips. 

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$GBPUSD

What ProAct Traders See: Waiting but with Bullish bias: We are currently @ 1.3553 after a breakout of the channel. MACD not committing to the down move and the breakout hints at a bullish move. We are looking for a bounce to the 0.500 Fibo @ 1.3604 area. Be aware it could go back in the channel and commit. Watch the USDX for direction. The average daily true range (ATR) for the pair is 76 pips.

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$AUDUSD 

What ProAct Traders See:  Bearish:  We are at a significant bottom so could bounce but chart indicated more to the downside.  A continuation here would target the S4 @ 0.7082. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 65 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