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This is what I see in the Forex the week of October 4th , 2020: USDX, EU,UJ,GU,AU

Note: USDX: Waiting: We are in a range and MACD has convergence for a MOVE up.  We have broken out of the channel to the downside, but this could still be a wedge. 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 overall are the same as last week (GBPUSD is much lower) and will change again on Sunday – use as a reference. BE SMART - TRADE WITH STOPS!!!!

$EURUSD

What ProAct Traders See:  Bearish: We are currently @ 1.1717 in the channel. We have the start of convergence for the downside move on MACD. A continuation here would most likely take out the 0.500 Fibo support @ 1.1542 and then a bounce. Watch the USDX for direction. The ATR for the pair currently is 77 pips.  

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$USDJPY 

What ProAct Traders See: Bullish: We are currently @ 105.31 in a range and a channel. We are looking for a continuation to the range top @ 107.00. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 53 pips. 

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$GBPUSD

What ProAct Traders See: Waiting: We are currently @ 1.2935 in a range.  A couple of different scenarios:  1:  Bullish: a continuation here look for a move back to the range top @ 1.3500. 2: Bearish:  A break down here means the current move is a bear flag and might take out the 1.2500 before bouncing.  Watch the USDX for direction. The average daily true range (ATR) for the pair is 127 pips.

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$AUDUSD 

What ProAct Traders See:  Waiting: We are currently sitting @ 0.7029 in a range. A couple of different scenarios:  1:  Bullish: a continuation here look for a move back to the range top @ 0.7400. 2: Bearish:  A break down here means the current move is a bear flag and might take out the 0.7006 before bouncing.  Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 72 pips. 

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