This is what I see in the Forex the week of November 6th, 2022: USDX, EU,UJ,GU,AU

Nov 05, 2022

USDX: Up then down: Chatter is that USDX is going to 118.00 – not today. Look to pullback on the NFP stuff and then follow down to support. 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 except USDJPY.  BE SMART - TRADE WITH STOPS!!!!

#EURUSD

What ProAct Traders See:  Bullish: We are currently @ 0.9960 in a fractal 3rd wave and in a range. Also a channel. We are looking to pullback first in a 4th wave and then continue the wave pattern to the R5 @ 1.0107 area. Watch the USDX for reversal and direction. The ATR for the pair currently is 115 pips.

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#USDJPY                            

What ProAct Traders See: Bearish: We are currently @ 146.66 in a range.  We are looking for a move the 4.236 Fibo @ 144.88. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 203 pips.

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#GBPUSD                           

What ProAct Traders See: Bullish: We are currently @ 1.1374 in a channel in a range. We are looking to continue to the Day top @ 1.1750 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 182 pips.

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#AUDUSD

What ProAct Traders See: Bearish to Bullish: We are currently @ 0.6473 in a range. We are anticipating a pullback to set the new channel and then the move to the day top @ 0.6681.  Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 111 pips.

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