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This is what I see in the Forex the week of June 6th, 2021: USDX, EU,UJ,GU,AU

Note: USDX: Waiting – Bearish now due to NFP but probably Bullish:  We have a breakout of the former channel down and we had initial traction to the upside before Non Farm Payroll. It may be a cup and handle which is bullish. 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 LOWER than last week. BE SMART - TRADE WITH STOPS!!!!

$EURUSD

What ProAct Traders See:  Bearish: We are currently @ 1.2179 in a  channel to the downside near the top of the range. A continuation here would most likely target the S4 @ 1.2034. Watch the USDX for reversal and direction. The ATR for the pair currently is 65 pips.

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$USDJPY 

What ProAct Traders See: Bullish: We are currently @ 109.55 in a channel in a range.  We are looking for a continuation to the Range Top @ 111.00.  Watch for a reaction there.  Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 54 pips. 

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$GBPUSD

What ProAct Traders See: Bearish: We are currently @ 1.4160 and MAYBE in the start of a channel to the downside (still sideways), have a triple top in place and are looking for a move DOWN to the to the S5 @ 1.3855.  Watch the USDX for direction. The average daily true range (ATR) for the pair is 87 pips.

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$AUDUSD 

What ProAct Traders See:  Bearish: We are currently sitting @ 0.7739 in a tight range and in a slow channel to the downside.  A continuation here would target the Range Bottom @ 0.7523 . Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 60 pips. 

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