This is what I see in the Forex the week of June 20th  ,  2023  USDX, EU,UJ,GU,AU

Jun 16, 2023

Note: Monday is a Bank Holiday in the USA. Banks are closed and so are we.


 

USDX: Bullish to Bearish: We are not committed to this yet. We are in a range after a C wave (which could end up being a 4 wave). A couple of different scenarios: 1: Bullish: a bounce here look for a move back to the range top @ 105.223. 2: Bearish: A continuation here would most likely take out the support @ 101.624 and then bounce. 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 slightly higher than last week. BE SMART - TRADE WITH STOPS!!!!

#EURUSD

What ProAct Traders See: Bearish to Bullish: We are currently @ 1.0942 in the start of a 4th wave down. We are looking to bounce near the 1.0866 area for the 5th wave. We are targeting the 1.1100 area for the top. Watch the USDX for reversal and direction. The ATR for the pair currently is 77 pips.

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#USDJPY 

What ProAct Traders See: Bullish : We are currently @ 141.85 finally out of the triangle. We are looking for a move to the range top @ 143.46 and expect the range to continue. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 118 pips.

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#GBPUSD 

What ProAct Traders See: Bearish to Bullish: We are currently @ 1.2823 after a 3 wave. We expect a 4th wave to correct and then a continuation of a 5th wave to 1.2979. We have convergence in play.  Watch for the reaction there. Watch the USDX for direction. The average daily true range (ATR) for the pair is 103 pips.

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#AUDUSD 

What ProAct Traders See: Bearish To Bullish: We are currently @ 0.6876 in a range with NO PULLBACK! We have convergence started but... We are looking to pull back first to the 0.382 Fibo @ 0.6726 and then resume a move to the R6 @ 0.7059.  Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 72 pips. 

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