This is what I see in the Forex the week of June 12th, 2022: USDX, EU,UJ,GU,AU

Note: USDX: Bullish – We are looking to continue this up movement, but it is close to a top and may only be the setup for the short.  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 lower than last week. BE SMART - TRADE WITH STOPS!!!!

#EURUSD

What ProAct Traders See:  Bearish: We are currently @ 1.0522 in the bottom of a channel which is bearish.  With Dollar UP, we are looking for a pullback and then a continuation of a 5th wave to the S5 @ 1.0410.  Watch for a reaction there.  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: We are currently @ 134.37 in a channel.  We have convergence just starting to the upside.  IF, we break the top of the Flag, we are looking for a move to the R7 @ 136.35.  Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 122 pips. 

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#GBPUSD

What ProAct Traders See: Bearish: We are currently @ 1.2311 in a channel and in a 3rd wave.  We have convergence to the downside. We are looking for a corrective move FIRST and then a move to the S6 @ 1.2048.   Watch the USDX for direction. The average daily true range (ATR) for the pair is 106 pips.

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#AUDUSD 

What ProAct Traders See:  Bearish:  We are currently @ 0.7033.  We expect a corrective 4th wave and then a move to the S5 @ 0.6910 are.  Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 75 pips. 

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

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