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This is what I see in the Forex the week of August 30th , 2020: USDX, EU,UJ,GU,AU

Note: USDX: Bearish: MACD has convergence for a MOVE DOWN on the 60-minute chart.  We may have finished a 4th wave to start a 5th wave down. We could also just stay in the current range. 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 slightly higher than last week especially GBPUSD and will change again on Sunday – use as a reference. BE SMART - TRADE WITH STOPS!!!!

$EURUSD

What ProAct Traders See:  Bullish: We are currently @ 1.1907 in the  range. We have convergence for the upside move on the 60-minute chart.  We are looking for a break of the range top  that  would target the Day chart Top @ 1.2156 area.   Watch the USDX for direction. The ATR for the pair currently is 90 pips.  

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$USDJPY 

What ProAct Traders See: Bearish: We are currently @ 105.42 in a range. We are looking to continue to the range bottom @ 104.00 area.  IF we break up here,, we are looking for a continuation to the 1.618 Fibo @ 101.95.  Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 75 pips. 

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$GBPUSD

What ProAct Traders See: Bullish: We are currently @ 1.3350 just out of the range.  We are for a continuation to the 2.270 Fibo @ 1.3706.  A break here targets the 1.4000 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 120 pips.

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$AUDUSD 

What ProAct Traders See:  Bullish: We are currently sitting @ 0.7361 at the channel top outside a range. We are looking for a quick pullback and then a move to the Day chart Top @ 0.7500 area. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 66 pips. 

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