This is what I see in the Forex the week of April 2nd   ,  2023  USDX, EU,UJ,GU,AU

Note:  Both ISM, Jolts, ADP and NFP this week!

USDX: Waiting: We are in a range.  We have Divergence to the upside. The Channel says we might continue in a 5th wave.  A continuation that would most likely take out the 1.618 Fibo @ 100.98.  The breakout targets the 0.500 Fibo @ 104.798. 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  lower than last week.  BE SMART - TRADE WITH STOPS!!!!

#EURUSD

What ProAct Traders See:  Bearish: We are currently @ 1.0843 after a double top and a breakout down.  Watch for a short 2 wave to set up the continuation down to the 0.786 Fibo @ 1.0633. MACD showing divergence to convergence.  Watch the USDX for reversal and direction. The ATR for the pair currently is 102 pips.

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#USDJPY 

What ProAct Traders See: Waiting: We are currently @ 132.81 after a significant bounce on the range bottom.  We have either a continuation (channel) or a corrective move (ABC).   We have convergence in play for the long. Target up in a continuation is the range top @ 137.70.  Target down is 127.11. 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: Bearish: We are currently @ 1.2401 out of a rising wedge (bearish) and first target is to the 4.236 Fibo @ 1.2105. We are then looking for a continuation to the 6.854 Fibo @ 1.1924.  Watch the USDX for direction. The average daily true range (ATR) for the pair is 104 pips.

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#AUDUSD 

What ProAct Traders See:  Bearish:  We are currently @ 0.6685 in a pennant.  We  are looking for a continuation to the range bottom @ 0.6550 area.  Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 77 pips. 

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