This is what I see in the Forex the week of September 4th  , 2022: USDX, EU,UJ,GU,AU

Note:  Monday is a USA Holiday- all banks closed and so are we.

USDX: Bullish – We are still moving north but close to a top.  We could reverse very shortly – who knows? 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 -Summer Trading almost over. BE SMART - TRADE WITH STOPS!!!!

#EURUSD

What ProAct Traders See:  Bearish: We are currently @ 1.9958 in a range after an a-b-c correction.   With USDX up, we are looking for a continuation to the S6 @ 0.9758.  Watch for a reaction there.  Watch the USDX for reversal and direction. The ATR for the pair currently is 101 pips.

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#USDJPY 

What ProAct Traders See: Bullish: We are currently @ 140.23 in a 5th wave channel on the Day chart. We are looking for a move to the 5th wave resistance R6 @ 141.92. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 128 pips.

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#GBPUSD

What ProAct Traders See: Bearish: We are currently @ 1.1514 in a trend and 5th wave.  The 5th wave already equals the 3rd wave so although the target is the S6 @1.1291 it will probably stop at the 1.618 fibo @ 1.1382. Watch the USDX for direction. The average daily true range (ATR) for the pair is 119 pips.

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#AUDUSD 

What ProAct Traders See:  Bearish:  We are currently @ 0.6808 in a 3 wave channel.   We expect a breakout move to the S6 @ 0.6524 area. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 85 pips. 

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