This is what I see in the Forex the week of December 11th , 2022: USDX, EU,UJ,GU,AU

Note:  Tons of Fundies this week as well as talking heads.  Most important CPI and FOMC!!!

USDX: Bullish: We finished a 5th wave in a (bearish) trend. We are now looking for an ABC UP and that  continuation would most likely take out the 0.382 Fibo @ 110.343. 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 lower than last week.  BE SMART - TRADE WITH STOPS!!!!

#EURUSD

What ProAct Traders See:  Bearish : We are currently @ 1.0534 after finishing a trending move in a large range.  We are looking to reverse (might need a head and shoulders) to the S6 @ 1.0000 area. We have divergence.  Watch the USDX for reversal and direction. The ATR for the pair currently is 103 pips.

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#USDJPY 

What ProAct Traders See: Bullish: We are currently @ 136.58 after finishing a 5th wave.  We are looking for an ABC move up to the 1.618 Fibo @ 142.52 and maybe the R7 @ 143.50. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 188 pips.

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#GBPUSD  

What ProAct Traders See: Bearish: We are currently @ 1.2261after finishing a 5th wave and a trend. We are looking to do an ABC reversal to the S6 @ 1.1735.  Watch the USDX for direction. The average daily true range (ATR) for the pair is 147 pips.

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#AUDUSD 

What ProAct Traders See:  Bearish:  We are currently @ 0.6795 in the top of a range.  We are looking for an ABC reversal to the S5 @ 0.6474.  the USDX for direction. The average daily true range (ATR) for the pair currently is 90 pips. 

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