This is what I see in the Forex the week of November 20th , 2022: USDX, EU,UJ,GU,AU

Note:  This is Thanksgiving week in the USA- ProAct is closed after Tuesday to celebrate with our families.

USDX: Waiting: We are in a range in a pennant (bearish).  A couple of different scenarios:  1:  Bullish: a bounce here, look for a move back to the range top @ 111.572. 2: Bearish:  A continuation here would most likely take out the 2.618 Fibo @ 102.163. 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 slightly higher last week.  BE SMART - TRADE WITH STOPS!!!!

#EURUSD

What ProAct Traders See:  Bearish for now: We are currently @ 1.0321 in a fractal 3rd wave and in a channel. We are looking to finish a 3rd wave and then pullback in a 4th wave and then continue the wave pattern to the S6 @ 1.9870 area. Watch the USDX for reversal and direction. The ATR for the pair currently is 145 pips.

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#USDJPY 

What ProAct Traders See: Bullish: We are currently @ 140.39 in a channel and  in a range.  We are looking for a move up to correct this huge move to the 4.236 Fibo @ 146.06.   Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 234 pips.

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#GBPUSD  

What ProAct Traders See: Bearish: We are currently @ 1.1885 in a channel in a range at the start of a bearish move.  We are looking to continue to the 1.618 Fibo @ 1.1525 area then to the 2.618 Fibo @ 1.1262. Watch the USDX for direction. The average daily true range (ATR) for the pair is 209 pips.

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#AUDUSD 

What ProAct Traders See:  Bearish:  We are currently @ 0.6670 in a range and the start of a downside move.  We expect a wave pattern to unfold to the 2.618 Fibo @ 0.6299. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 117 pips. 

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