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This is what I see in the Forex the week of July 1st , 2019: USDX, EU,UJ,GU,AU

Note: USDX: We are waiting based on the current chart which may be totally opposite when the Market opens on Monday due to after hours trading. A couple of different scenarios: 1: Bullish: a bounce here, look for a move back to the range top. The 60-minute chart is showing convergence for the up move. 2: Bearish: A continuation here would most likely target the 95.00 area. The 240-minute chart shows convergence to the downside and a possible bear flag pushing it to the downside. Be aware that this could change in a heartbeat and will affect the currencies below. ATR’s are slightly lower than last week, so look for them to increase further.

$EURUSD

What ProAct Traders See: Waiting: We are currently @ 1.1371 in a range and channel. A couple of different scenarios: 1: Bullish: a bounce here, look for a continuation to the range top @ 1.1448 (and maybe through to the 1.270 Fibo @ 1.1495). 2: Bearish: the flag pattern show that they have already made th turn and are now looking to move to the range bottom @ 1.1100. Watch the USDX for direction. The ATR for the pair currently is 57 pips.

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$USDJPY

What ProAct Traders See: Bullish: We are currently @ 107.93 in a channel and range. We are looking to continue to the range top @ 108.69. A pullback there could set up a 5th wave above or the reversal to the downside. 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: Waiting: We are currently @ 1.2700 in a tight range inside a big range. A couple of different scenarios: 1: Bullish: a bounce here look for a move back to the tight range top @ 1.2800 and possible continuation on a break above there.. 2: Bearish: We have a flag pattern to the downside indicating the short. A continuation here would most likely take out the range bottom @ 1.2500 and then back to the range top.

. Watch the USDX for direction. The average daily true range (ATR) for the pair is 79 pips.

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

What ProAct Traders See: Waiting: We are currently sitting @ 0.7024 at the top of a tight range with a rising wedge reversal pattern showing. A couple of different scenarios: 1: Bullish: a break above here look for a move to the square up @ 0.7080. 2: Bearish: A reversal here would most likely target the 0.786 Fibo @ 0.6873. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 42 pips.

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