This is what I see in the Forex the week of January 27th, 2019

Note: USDX is in a range.We are currently bearish due to breakout of the former channel up. Watch the reaction @ the 95.018 area for either a continuance or reversal.Be aware that this could change in a heartbeat and will affect the currencies below. ATR’s are dramatically lower.

$EURUSD

What ProAct Traders See: We are currently @ 1.1415. Bullish: we are looking for a move up to the range top @ 1.1585. We could continue up here to 1.1666 or react here back to the downside to the 0.500 Fibo @ 1.1393.Look for bounce at both points.Watch the USDX for direction. The ATR for the the pair currently is 67 pips.

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$USDJPY

What ProAct Traders See: We are currently @ 109.52. Bearish: We are looking for a continuation down to the 0.618 Fibo @ 108.76 and then to the range bottom@ 108.00.Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 65 pips.

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$GBPUSD

What ProAct Traders See:We are currently @ 1.3213 in a large range.A couple of different scenarios:1:Bullish: a bounce above 1.3267 look for a move to the 1.270 Fibo @ 1.3465. 2: Bearish:A reaction down @ the 1.3257 would most likely go back to the psychological value @ 1.3000. Watch the USDX for direction. Brexit still affecting this pair. Watch the USDX for direction. The average daily true range (ATR) for the pair is 118 pips.

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

What ProAct Traders See:Bullish:We are currently sitting @ 0.7184 in a range. We are looking for a continuation to the range top @ 0.7239 and then a move back down to the 0.500 Fibo @ 0.7082.A move out of the range to the 1.270 Fibo @ 0.7336 cannot be ruled out though.Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 51 pips.

Posted to Introduction to Forex Tar... on Jan 26, 2019 — 10:01 AM

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Great weekly analysis, very useful and educational.
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