This is what I see in the Forex the week of July 17th , 2022: USDX, EU,UJ,GU,AU

USDX: Bearish – We appear to have topped out and are looking to continue this down movement. 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 slightly higher than last week-Summer Trading on the Dock. BE SMART - TRADE WITH STOPS!!!!

#EURUSD

What ProAct Traders See:  Bullish: We are currently @ 1.0087 in the bottom.  We anticipate a possible Head and Shoulders pattern before heading up.  With USDX down, we are looking for a continuation to the 0.500 Fibo @ 1.0351.  Watch for a reaction there.  Watch the USDX for reversal and direction. The ATR for the pair currently is 109 pips.

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#USDJPY 

What ProAct Traders See: Bearish: We are currently @ 138.54 in a Rising Wedge.  We are looking for a move to the S5 @ 135.64 and possibly the support @ 134.80.  Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 121 pips.

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#GBPUSD

What ProAct Traders See: Bullish: We are currently @ 1.1865 in a falling wedge.  If we can break the 1.1900 resistance we are looking for a move to the R5 @ 1.2160.   Watch the USDX for direction. The average daily true range (ATR) for the pair is 131 pips.

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#AUDUSD 

What ProAct Traders See:  Bullish:  We are currently @ 0.6793 waiting for a breakout.  We expect a move to the R5 @ 0.7060 area.  Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 88 pips. 

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