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This is what I see in the Forex the week of February 8th , 2021: USDX, EU,UJ,GU,AU

Note: USDX: Bearish to possible Bullish: We are in a channel. We have the possible start of divergence in play for the down move.  The Question is : Will this be a  5th wave up for the bullish continuation or the breakdown of the channel with an a-b-c pattern? A bounce @ 91.50 area will confirm the buy.  ATR’s overall are lower than last week and will change again on Sunday – use as a reference. BE SMART - TRADE WITH STOPS!!!!

$EURUSD

What ProAct Traders See:  Bearish: We are currently @ 1.2050 in a range and possibly trending. A Turn here here would most likely target the S6 @ 1.1740 . Watch the USDX for direction. The ATR for the pair currently is 68 pips per day.

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$USDJPY 

What ProAct Traders See: Bearish to  Bullish: We are currently @ 105.39 in a channel.  We are anticipating a move to the wave 1 support @ 104.50 area. We have convergence on the 1 H. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is ONLY 42 pips. 

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$GBPUSD

What ProAct Traders See: Bearish: We are currently @ 1.3739 in a range and a possible Rising Wedge setting up a breakdown. We are looking for a reaction at the Range Top and then a continuation to the Range bottom @ 1.3560. Watch the USDX for direction. The average daily true range (ATR) for the pair is 97 pips.

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$AUDUSD  

What ProAct Traders See:  Bearish:  We are currently sitting @ 0.7674 in a channel in a range. We are looking for a reaction at the range top and then a move  to the range bottom @ 0.7450 area.  Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 70 pips. 

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