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Scott Barkley

This is what I see the week of November 18th, 2018: USDX, EU,UJ,GU,AU

USDX is still potentially bullish but near a significant top. We have Convergence for a continuation to the downside. Be aware that that could change in a heartbeat and will affect the currencies below. ATR’s have remained steady except for the GBPUSD which has jumped 30 pips a day!

$EURUSD

What ProAct Traders See: Bullish: We are in a range and are looking for a continuation to the 1.1500 area and then a turn before a continuation to the range top @ 1.5767. We may not stop at the 1.1500 Top so watch for either scenario. Watch the USDX for direction. The ATR for the the pair currently is 79 pips.

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$USDJPY

ProAct Traders See: Bearish: We are currently sitting @ 112.80 in a range. We are looking for a continuation to the square up @ 112.06 and then a continuation to the range bottom @ 114.50” Still the same. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 60 pips.

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$GBPUSD

What ProAct Traders See: Waiting: A couple of different scenarios: 1: Bullish: a bounce here (clues from the USDX) look for a move back to the top @ 1.3140. 2: Bearish: A continuation here would most likely take out the day chart bottom @ 1.2618. Brexit still affecting this pair. Watch the USDX for direction. The average daily true range (ATR) for the pair is 145 pips.

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

What ProAct Traders See: Bullish: We are looking to break the range top ( following the USDX) for a continuation of the future 5th wave to 0.7447. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 60 pips.

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