This is what I see in the Forex the week of July 23rd ,  2023  USDX, EU,UJ,GU,AU

Note: FOMC this week!!

USDX: Bullish to Bearish: We most likely are in a 5 wave structure up with divergence near a top. W are looking for an A-B-C pattern next down. That means reversal!!! We are looking for a continuation to at least the bottom of the 4 wave @ 101.311 and then we will see??? 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 except USDJPY which is significantly higher than last week. BE SMART - TRADE WITH STOPS!!!!

#EURUSD

What ProAct Traders See: Bearish: We are currently @ 1.1126 after making the turn to the downside. We are looking for a sideways move and then resumption of the 3rd wave to @ 1.1042. Watch for the reaction there. Watch the USDX for reversal and direction. The ATR for the pair currently is 71 pips.

¬¬¬………………………………………………… 

#USDJPY 

What ProAct Traders See: Bullish : We are currently @ 141.83 ia possible 3rd wave up. We are looking for a continuation to the former day chart resistance @ 143.53. Watch for a 4th wave there ( or it could come immediately). Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 145 pips.

……………………………………………..

#GBPUSD 

What ProAct Traders See: Bearish: We are currently @ 1.2853 in a possible 3rd wave in a channel ( not proven). We are looking for short move down and then a 4th wave that MAY set up a 5th wave. Watch the USDX for direction. The average daily true range (ATR) for the pair is 99 pips.

…………………………………………………

#AUDUSD 

What ProAct Traders See: Bearish: We are currently @ 0.6731 in a range and a channel. We are looking to continue to the 1.618 Fibo @ 0.6663 and then a 4th wave to set up a 5th wave. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 73 pips. 

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