This is what I see in the Forex the week of June 4th ,  2023  USDX, EU,UJ,GU,AU

Note:  Fundies this week include ISM and Unemployment Claims

USDX: Bearish: We are in a channel and a C wave.  We are looking for a continuation to the 0.786 fibo @ 102.47.  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.  BE SMART - TRADE WITH STOPS!!!!

#EURUSD

What ProAct Traders See:  Bullish: We are currently @ 1.0708 in the start of a channel in the bottom of the range which should be the bounce point.   We are looking to continue a C wave to the 4.236 Fibo @ 1.0916.  Watch the USDX for reversal and direction. The ATR for the pair currently is 64 pips.

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#USDJPY 

What ProAct Traders See: Bearish maybe? : We are currently @ 139.97 at the top of the range and at a day chart top.  Waiting to see if this is a false breakout. If it is, we are  looking for a move to the 1.618  Fibo @ 135.97. 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: Bullish: We are currently @ 1.2451 in a range.  We have convergence in play for the 5th wave. We are looking for a continuation to the 1.000 Fibo @ 1.2639.  Watch for the reaction there. Watch the USDX for direction. The average daily true range (ATR) for the pair is 90 pips.

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#AUDUSD 

What ProAct Traders See:  Bullish:  We are currently @ 0.6606 in a range after making the turn.  WE are looking to first put in a 2 wave and then a 3 wave to the 0.786 Fibo @ 0.6742.  Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 61 pips. 

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