This is what I see in the Forex the week of July 24th , 2022: USDX, EU,UJ,GU,AU

USDX: Bearish – We are in a sideways move inside a channel 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 about the same as last week-Summer Trading on the Dock. BE SMART - TRADE WITH STOPS!!!!

#EURUSD

What ProAct Traders See:  Bullish: We are currently @ 1.0212 in a second wave.  We anticipate a third wave starting.  With USDX down, we are looking for a continuation to the 0.214 Fibo @ 1.0473.  Watch for a reaction there.  Watch the USDX for reversal and direction. The ATR for the pair currently is 117 pips.

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#USDJPY 

What ProAct Traders See: Bearish: We are currently @ 136.08 in a third wave.  We are looking for a move to the support @ 134.85 and then a 4th wave before resumption to the downside.  Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 110 pips.

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#GBPUSD

What ProAct Traders See: Bullish: We are currently @ 1.2006 in a 3rd wave and a channel.  We are looking for a move to the 0.214 Fibo @ 1.2273.   Watch the USDX for direction. The average daily true range (ATR) for the pair is 128 pips.

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#AUDUSD 

What ProAct Traders See:  Bullish:  We are currently @ 0.6926 in a 5th wave and a channel  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 90 pips. 

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