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Scott Barkley

This is his is what I see in the Forex the week of September 19th, 2021: USDX, EU,UJ,GU,AU

Note: USDX: Bullish–We have convergence in play on MACD on the 4 hour and convergence on the hourly. We are waiting to see if we get a 5th wave DOWN! We are in a channel to the upside and anticipate the continuation to the range top. 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 about the same as last week. BE SMART - TRADE WITH STOPS!!!!

$EURUSD

What ProAct Traders See: Bearish: We are currently @ 1.1756 in a channel and a range. We are looking for the continuation to the Bottom 1.1650-1677. We have convergence on the 60 min MACD. Watch the USDX for reversal and direction. The ATR for the pair currently is EXTREMELY LOW at 45 pips.

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$USDJPY

What ProAct Traders See: Sideways: We are currently @ 109.98 in a range inside a range. Target up is 110.36 and MAYBE 110.70. The down target is109.17. The pair is ranging off equilibrium. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 46 pips.

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$GBPUSD

What ProAct Traders See: Bearish: We are currently @ 1.3728 in a channel and in a range (at the bottom). We have convergence on the MACD for the continuation of the down move. A continuation down here would most likely target the S4 support @ 1.3681 area and a continuation target the day chart bottom @ 1.3603. Watch the USDX for direction. The average daily true range (ATR) for the pair is 72 pips.

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$AUDUSD

What ProAct Traders See: Bearish: We are currently sitting @ 0.7265 in a channel in a range. We are looking for the continuation to the S5,range bottom @ 0.7100 area. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 57 pips.

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