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

USDX: Waiting –Be open to both scenarios.   One last move to the top and then down or follow convergence down.  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 except the USDJPY which has finally dropped.  BE SMART - TRADE WITH STOPS!!!!

#EURUSD

What ProAct Traders See:  Bearish: We are currently @ 0.9725 in a fractal day chart 3rd wave and in a range.  We are looking to continue the wave pattern to the S5 @ 0.9634 area. Watch the USDX for reversal and direction. The ATR for the pair currently is 133 pips.

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#USDJPY 

What ProAct Traders See: Bullish to Bearish: We are currently @ 148.75 in a 5th wave.  We are looking for a move up to the R6 @ 149.63 area.   A reversal there look to return to the R5 @ 147.30.  Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 97 pips.

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#GBPUSD  

What ProAct Traders See: Bearish: We are currently @ 1.1179 in a range in a range.  We are looking to continue to the support area @ 1.0891. MACD still pointing the way down. Watch the USDX for direction. The average daily true range (ATR) for the pair is 267 pips.

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#AUDUSD 

What ProAct Traders See:  Bearish:  We are currently @ 0.6204 in a 5th wave.  If USDX goes up we are anticipating the move to the S5 @ 0.5969.  IF we can break the support. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 112 pips. 

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