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AUDUSD: Reversal

Bearish: Currently we are at 0.6855 in the start of a reversal (USDX flipping). We are looking to short the to the 0.382 Fibo @ 137.38/ATR target @ 0.6822 and then on to the square up @ 0.6790. WATCH THE USDX for more clues. The ATR is 47 Pips per day.

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GBPJPY: Reversal

Bearish: Currently we are at 141.20 in a Day Trend and sat the top of a 3rd wave. We are looking to short the 4th wave to the 0.382 Fibo @ 137.38 and then a continuation to the 0.618 Fibo/Square up @134.84 by Friday. WATCH THE USDX for more clues. The ATR is 178 Pips per day.

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This is what I see in the Forex the week of October 20th , 2019: USDX, EU,UJ,GU,AU

USDX: Bearish: We are anticipating the continuation of the down move BUT we are close to the range bottom. We have divergence on the 60 min chart (see inset) which is potentially bullish. Be aware that this could change in a heartbeat and will affect the currencies below. ATR’s are roughly the same from last week except the GBPUSD which is up.

 

Brexit vote over the weekend be careful!

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What I See in the Forex
What I See in the Forex
What I See in the Forex
What I See in the Forex
What I See in the Forex

USDJPY: Reversal

Bearish: Currently we are at 108.75 in a range and in a rising wedge. We are looking to short the Rising wedge to the ATR Target @ 108.16 and then a continuation to the 0.618 Fibo @ 107.43 by Friday. WATCH THE USDX for more clues. The ATR is 62 Pips per day.

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GBPCHF: Continuation

Bullish: Currently we are at 1.2769 in a range. We are looking to continue to the ATR Target @ 1.2881 and then a continuation to the Day Chart Resistance @ 1.2928. should see a reaction there. WATCH THE USDX for more clues. The ATR is 151 Pips per day.

 

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EURAUD: Symmetrical triangle

Bearish: Currently we are at 1.6295 is a symmetrical triangle. We are looking to break to the downside to the ATR Target @ 1.6201 and then a continuation to the trend bottom @ 1.6133. WATCH THE USDX for more clues. The ATR is 101 Pips per day.

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This is what I see in the Forex the week of October 12 , 2019: USDX, EU,UJ,GU,AU

USDX: Bearish: We are anticipating the continuation of the down move. Be aware that this could change in a heartbeat and will affect the currencies below. ATR’s are slightly down from last week.

Please note: Monday is a USA holiday – ProAct Traders is closed

$EURUS

ProAct Traders See: Bullish: We are currently @ 1.008 in the start of a channel to the upside. We are looking to continue to the 0.786 Fibo @ 1.1170. We have convergence on the 60-min MAC. The overall target is 1.1243. Watch the USDX for direction. The ATR for the pair currently is only 56 pips.

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What I See in the Forex
What I See in the Forex
What I See in the Forex
What I See in the Forex

EURJPY – 2 SCENARIOS

Waiting: Two scenarios: Bullish: a move to the former top @ 120.00 area) 2: Bearish: A break down here to the 117.00 area. The average daily true range (ATR) for the pair currently is 65 pips with a 180-day ATR of 73 Pips

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EURUSD – Back to the bottom?

Bearish: Currently we are @1.0977 in a range. We are looking to continue to the Day chart bottom @ 1.0863. Watch for the reaction there back to the range bottom or a break out to the 1.270 Fibo @ 1.0736. The 14-day ATR (Average True Range) is 57 Pips with a 180-day ATR of 56 Pips.

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EURNZD – Back to the top?

Bullish: Currently we are @1.7457 in a range. We are looking for a pullback and then to continue to the ATR target @ 1.7494 and then to the Day chart top @ 1.7575. Watch for the reaction there back to the range bottom. The 14-day ATR (Average True Range) is 121 Pips with a 180-day ATR of 111 Pips.

 

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