This is what I see in the Forex the week of January15th, 2023 , 2022: USDX, EU,UJ,GU,AU

Note:  MLK Day in the USA banks (and ProAct) are closed.  CPI on Wednesday!

USDX: Bearish: We are in a day chart 5th wave in a trend. We have  a possible 3rd wave starting in a channel on the 240. We expect a continuation that would most likely take out the 0.1000 Fibo @ 101.462.  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 about the same as last week.  BE SMART - TRADE WITH STOPS!!!!

#EURUSD

What ProAct Traders See:  Bullish: We are currently @ 1.0833 in a Day chart 5th wave.  We are looking to continue to the 2.618 Fibo @ 1.0975 area. A break higher would target the day R6 @1.1100.  Watch the USDX for reversal and direction. The ATR for the pair currently is 92 pips.

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#USDJPY 

What ProAct Traders See: Bullish to Bearish: We are currently @ 127.88 at the bottom of a day chart channel and 3rd wave in the Day chart world.  We are looking for a pullback and then resumption to the downside to the S6 @ 126.80. Lots to go in our REOTM Trade. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 173 pips.

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#GBPUSD  

What ProAct Traders See: Bullish: We are currently @ 1.2231 in a channel and 3rd wave up in a range. We are looking to continue to the Range Top @ 1.2422.  Watch the USDX for direction. The average daily true range (ATR) for the pair is 127 pips.

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#AUDUSD 

What ProAct Traders See:  Bullish:  We are currently @ 0.6977 in the top of a range and day chart top.  IF we can break the top, we are looking for a continuation to the 1.618 Fibo @ 0.7233.  Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 92 pips. 

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