This is what I see in the Forex the week of May 14th,  2023  USDX, EU,UJ,GU,AU

Note: Fundies this week include Unemployment claims on Thursday

USDX: Bullish: We are out of the range. We are looking for a continuation to the 2.618 Fibo @ 103.924. 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: We are currently @ 1.0850 in a channel in a range. We have convergence so we are looking for a move to the bottom of the range @ the 2.618 Fibo @ 1.0711. Watch for a reaction there. Watch the USDX for reversal and direction. The ATR for the pair currently is 84 pips.

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#USDJPY 

What ProAct Traders See: Bullish: We are currently @ 134.84 in a range and a third wave. We have convergence in play for the continuation. Target up in a continuation is the range top @ 137.27. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 1300 pips.

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#GBPUSD 

What ProAct Traders See: Bearish: We are currently @ 1.2448 in a range @ the S4. We have convergence in play for the short. We are looking for a continuation to the S5 (just out of the range) @ 1.2300. Watch for the reaction there. Watch the USDX for direction. The average daily true range (ATR) for the pair is 93 pips.

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#AUDUSD 

What ProAct Traders See: Bearish: We are currently @ 0.6642 in a range and near the bottom. We are looking for a move the 4.236 Fibo @ 0.6554. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 65 pips. 

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