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This is what I see in the Forex the week of May 23rd , 2021: USDX, EU,UJ,GU,AU

Note: USDX: Waiting probably Bearish: The USD pairs should prove it out when the market opens.  First Day target was hit @ 90.198.  The next target is 89.716. 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:  Waiting: We are currently @ 1.2181 in a channel near the top of the range. A couple of different scenarios:  1:  Bullish: a bounce here look for a move to the Day chart top @ 1.23502: Bearish:  A break down here here would most likely target the 0.500 Fibo @ 1.2027. Watch the USDX for reversal and direction. The ATR for the pair currently is 70 pips.

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$USDJPY 

What ProAct Traders See: Bearish: We are currently @ 108.89 in a channel in a range.  We are looking for a continuation to the S5/0.618 Fibo @ 110.25.  Watch for a bounce  there.  Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 61 pips. 

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$GBPUSD

What ProAct Traders See: Bearish: We are currently @ 1.4151 after finishing a 5th wave to the day chart top @ 1.4242. We are looking for a move DOWN to the to the former R5 @ 1.3955.  if we continue up look to the R6 @ 1.4421. Watch the USDX for direction. The average daily true range (ATR) for the pair is 93 pips.

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$AUDUSD 

What ProAct Traders See:  Ranging: We are currently sitting @ 0.7737 in a tight range is inside a bigger range. A couple of different scenarios:  1:  Bullish: a bounce here look for a move back to the range top @ 0.8008 2: Bearish:  A breakdown here would target the Range Bottom @ 0.7500 . Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 72 pips. 

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