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This is what I see in the Forex the week of May 22nd, 2022: USDX, EU,UJ,GU,AU

#forex #Proacttraders #FX #forex #forextrading #forexsignals #forexlife #forexlifestyle


Note: USDX: Bullish to Bearish – We are looking to finish a corrective move and then start a wave to the downside  The USD 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 significantly lower than last week. BE SMART - TRADE WITH STOPS!!!!


#EURUSD
What ProAct Traders See:  Bullish: We are currently @ 1.0559 in a channel which is bullish.  With Dollar threatening down, we are looking for a move to the upside to the R5/0.382 Fibo @ 1.0726.  Watch for a reaction there.  Watch the USDX for reversal and direction. The ATR for the pair currently is 105 pips.
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#USDJPY          
What ProAct Traders See: Bearish: We are currently @ 127.93 in a channel.  We have convergence to the downside.  We are looking for a move to the S6 @ 125.15. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 130 pips. 
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#GBPUSD        
What ProAct Traders See: Bullish: We are currently @ 1.2492 in a range and just out of a falling wedge.  We have convergence to the upside. We are looking for a move to the R6 @ 1.2780.  Watch the USDX for direction. The average daily true range (ATR) for the pair is 148 pips.
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#AUDUSD 
What ProAct Traders See:  Bullish:  We are currently @ 0.7047.  We are out of the falling wedge and expect a move back to the R5 @ 0.7207 area.  Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 110 pips. 
CAUTION IS URGED - TRADE WITH STOPS!!!!!

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