This is what I see in the Forex the week of February 5th  2023  USDX, EU,UJ,GU,AU

Note:  CPI and PPI this week- have moved a lot recently

USDX: Bullish: We finished a 4th wave down and in a 5th wave up.  We have the start of convergence to the upside. We expect a continuation that would most likely take out the R10/1.000 Fibo @ 105.671.  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 than last week.  BE SMART - TRADE WITH STOPS!!!!

#EURUSD

What ProAct Traders See:  Bearish: We are currently @ 1.0678 after a 4th wave.  We are looking to continue to the range bottom/S6@ 1.0424 area. Watch the USDX for reversal and direction. The ATR for the pair currently is 90 pips.

¬¬¬………………………………………………… 

#USDJPY 

What ProAct Traders See: Bullish: We are currently @ 131.44 in a channel.  Big WOS! We are looking for continuation to the upside to the R6 @ 134.18. REOTM trade is over but might resume at that top. REOTM Trade. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 152 pips.

……………………………………………..

#GBPUSD  

What ProAct Traders See: Bearish: We are currently @ 1.2056 in a channel and 5th wave down in a range. We are looking for a continuation to the S6 @ 1.1788.  Watch the USDX for direction. The average daily true range (ATR) for the pair is 119 pips.

…………………………………………………

#AUDUSD 

What ProAct Traders See:  Bearish:  We are currently @ 0.6918 after a 2 corrective wave.  We are looking for a continuation to the 1.000 Fibo @ 0.6710 and then a 4th wave with a further target the S6/1.618 Fibo @ 0.6522-48.  Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 87pips. 

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