This is what I see in the Forex the week of March 5th ,  2023  USDX, EU,UJ,GU,AU

Note:  Lots of Fundies this week including Jolts and Non-Farm Payroll

USDX: Bearish: We are in a tight range.  We have convergence to the downside. We expect a continuation that would most likely take out the 1.000 Fibo @ 104.762.  Watch for a reaction there. The 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.  BE SMART - TRADE WITH STOPS!!!!

#EURUSD

What ProAct Traders See:  Bullish: We are currently @ 1.0635 in a possible 3rd wave up in a channel and in a range.  This could be corrective and an ABC (for the short) or the 5 wave pattern. If 5 waves, we are looking to continue to the 1.618 Fibo @ 1.0837 area. If an ABC watch for the turn at the R4 @ 1.0766.  Watch the USDX for reversal and direction. The ATR for the pair currently is 77 pips.

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#USDJPY 

What ProAct Traders See: Bearish: We are currently @ 135.82 in a range.  Big WOS! We have convergence in play for the short. We are looking for a continuation to the S4 @ 134.76. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 123 pips.

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#GBPUSD  

What ProAct Traders See: Bullish: We are currently @ 1.2045 in a big range. We are looking for a continuation of the breakout to the 1.618 Fibo @ 1.1852.  Overall target up is the 2.618 Fibo @ 1.2506 area.  Watch the USDX for direction. The average daily true range (ATR) for the pair is 123 pips.

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#AUDUSD 

What ProAct Traders See:  Bullish:  We are currently @ 0.6769 at a bottom.  We are looking for a continuation of the breakout to the 0.382 Fibo @ 0.7000 area.  Watch for a reaction there. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 79 pips. 

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