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This is what I see in the Forex the week of January 18th , 2021: USDX, EU,UJ,GU,AU

Note: USDX: Bullish: We are in a channel. We have the possible start of divergence in play for the down move.  The Question is : is this an ABC for the sell or a 123 for the 5 waves up? ATR’s overall are higher than last week except for the GBPUSD (-20) and will change again on Sunday – use as a reference. BE SMART - TRADE WITH STOPS!!!!

 

Monday is a USA Bank Holiday – Markets will be dead.

$EURUSD

What ProAct Traders See:  Bearish: We are currently @ 1.2066 in a channel. A continuation here would most likely target the S5/0.500 Fibo @ 1.1976. Watch the USDX for direction. The ATR for the pair currently is 82 pips per day.

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$USDJPY 

What ProAct Traders See: Waiting: We are currently @ 103.74 in a possible channel in a range.  We are anticipating a slow move to the 0.786 Fibo @ 105.00 area and possibly to the Range Top @ 105.50 area.  We have convergence on the 1 H (see inset). Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 56 pips. 

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$GBPUSD

What ProAct Traders See: Bearish: We are currently @ 1.3551 in a range setting up a breakout. We are looking for a continuation to the S5/0.618 Fibo @ 1.3327-52. Brexit info affecting this pair a lot.   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:  Bearish:  We are currently sitting @ 0.7681 in a range and after a breakout. We are looking for a continuation to the range bottom @ 0.7446.  We have convergence for the move on the 1 H (see inset). Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 83 pips. 

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