This is what I see in the Forex the week of March 12th ,  2023  USDX, EU,UJ,GU,AU

Note:  Lots of Fundies this week including CPI and PPI

USDX: Bearish: We are in a range.  We have convergence to the downside. We expect a continuation that would most likely take out the 4.236 Fibo @ 104.046.  Watch for a reaction there. 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 lower than last week.  BE SMART - TRADE WITH STOPS!!!!

#EURUSD

What ProAct Traders See:  Bullish: We are currently @ 1.0640 in a tight range but in the start of a channel.  We are looking to continue to the R5@ 1.0900 area. 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: Bearish: We are currently @ 135.10 in a channel.  We have convergence in play for the short. We are looking for a continuation to the 0.382 Fibo @ 132.90. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 114 pips.

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#GBPUSD  

What ProAct Traders See: Bullish: We are currently @ 1.2033 in a channel and in a 4th corrective wave. We are looking for a 5th wave continuation to the R5 @ 1.2189.  Watch the USDX for direction. The average daily true range (ATR) for the pair is 115 pips.

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#AUDUSD 

What ProAct Traders See:  Bullish:  We are currently @ 0.6583 at a bottom.  We could have a little more to the downside with the flag pattern. Ultimately, we are looking for a continuation of an abc pattern @ 0.6864 area.  Watch for a reaction there. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 73 pips. 

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