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This is what I see in the Forex the week of December 6th , 2020: USDX, EU,UJ,GU,AU

Note: USDX: Waiting: We are at a significant Support and showing a flag pattern for the continuation down.  A break down targets the 1.270 Fibo @89.917.  A bounce targets the 92.500 area. All of this could change in a heartbeat and will affect the currencies below. ATR’s overall are SIGNIUFICANTLY lower than last week and will change again on Sunday – use as a reference. BE SMART - TRADE WITH STOPS!!!!

$EURUSD

What ProAct Traders See:  Bearish: We are currently @ 1.2128 just out of a rising wedge (bearish) in a range.  A break down here would most likely take out the 0.382 Fibo @ 1.1956. Watch the USDX for direction. The ATR for the pair currently is 67 pips per day.

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$USDJPY 

What ProAct Traders See: Bullish: We are currently @ 104.17 in a range.  A continuation here would most likely target the range top @ 105.69.  The 60 min (inset) shows a bullish MACD.  Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 50 pips. 

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$GBPUSD

What ProAct Traders See: Bearish: We are currently @ 1.3439 near the top of a range. We are looking for a Reversal and continuation  to the .0.382 Fibo @ 1.3072 area.  Should it break up target the Day chart top @ 1.3756.  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:  Bearish: We are currently sitting @ 0.7432 in a range and a channel. We are looking for a reversal and continuation to the 0.500 Fibo @ 0.7221.  We have divergence on the 60 min (inset). Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 56 pips. 

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