This is what I see in the Forex the week of August 14th , 2022: USDX, EU,UJ,GU,AU
#forex #Proacttraders #FX #forex #forextrading #forexsignals #forexlife #forexlifestyle
USDX: Bearish – We are still potentially in the sideways move inside a range. We are looking at this as a correction to go short again. 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 about the same as last week (USDJPY and GBPUSD are significantly higher) -Summer Trading on the Dock. BE SMART - TRADE WITH STOPS!!!!
#EURUSD
What ProAct Traders See: Bullish: We are currently @ 1.0257 in a third wave. With USDX down, we are looking for a continuation to the 1.618 Fibo @ 1.0509. Watch for a reaction there. Watch the USDX for reversal and direction. The ATR for the pair currently is 104 pips.
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#USDJPY
What ProAct Traders See: Bearish: We are currently @ 133.50 in the start of a 3rd wave. We are looking for a move to the day chart bottom @ 131.00. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 183 pips.
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#GBPUSD
What ProAct Traders See: Bullish: We are currently @ 1.2136 in a 5th wave and a Trend/Channel. We are looking for a move to the Day chart top @ 1.2424. Watch the USDX for direction. The average daily true range (ATR) for the pair is 129 pips.
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#AUDUSD
What ProAct Traders See: Bullish: We are currently @ 0.7123 in a channel. We expect a move to the R6 @ 0.7300 area. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 89 pips.
CAUTION IS URGED - TRADE WITH STOPS!!!!!
