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This is what I see in the Forex the week of January 13th, 2019: USDX, EU,UJ,GU,AU

Note: USDX is in a range. We are currently bullish due to convergence on the 60 min chart. Watch the reaction @ the 96.710 area for either a continuance or reversal. Be aware that this could change in a heartbeat and will affect the currencies below. ATR’s are higher.

$EURUSD

What ProAct Traders See: We are currently @ 1.1463. Bearish: we are looking for a move down after the break of the slope support to the 0.618 Fibo @ 1.1384 (watch for a bounce there) and a continuation to the range bottom @ 1.1270. We have convergence on the 60 min for this down move. Watch the USDX for direction. The ATR for the the pair currently is 93pips.

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$USDJPY

What ProAct Traders See: We are currently @ 108.55. A couple of different scenarios: 1: Bullish: a break above the symmetrical triangle here look for a move back to the 0.214 Fibo resistance @ 112.42. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 119 pips.

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$GBPUSD

What ProAct Traders See: We are currently @ 1.2846 in a rising wedge which is ultimately bearish after one more move. A couple of different scenarios: 1: Bullish: a break above the 0.214 Fibo here and a move to the range top @ 1.2927 THEN…2: Bearish: A reaction down would most likely target the 0.618 fibo @ 1.2567 area. Brexit still affecting this pair. Watch the USDX for direction. The average daily true range (ATR) for the pair is 107 pips.

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$AUDUSD – A great smooth currency for Newbie’s!

What ProAct Traders See: Bearish: We are currently sitting @ 0.7204 in a range and in a rising wedge which is ultimately bearish. We may have one more run to the range top @ 0.7236 before the short. We are looking for a continuation to the range bottom/0.618 fibo @ 0.7038. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 77 pips.

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