This is what I see in the Forex the week of February 17th, 2019

Note: USDX is in a range.We are currently bearish after the zero-line break on the MACD showing convergence to the downside. Watch the reaction @ the 96.671 area and also 96.188 for either a continuance or reversal.Be aware that this could change in a heartbeat and will affect the currencies below. ATR’s are slightly lower except for GBPUSD which is substantially lower.

$EURUSD

What ProAct Traders See: We are currently @ 1.1299. Bullish: we are looking for a bounce to the top of the 0.500 Fibo @ 1.1374 and then a move to the day chart trend wall (watch for a reversal there or a continuation to the first top @1.1500 area ).We have convergence in play for this move now.Watch the USDX for direction. The ATR for the the pair currently is 58 pips.

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$USDJPY

What ProAct Traders See: We are currently @ 110.41. Bearish: We are looking for a continuation to the 0.786 Fibo @ 109.02.We have the up-channel breakout to the downside.Watch the 0.618 fibo @ 109.50 for a bounce.Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 56 pips.

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$GBPUSD

What ProAct Traders See:We are currently @ 1.3892.Bullish: we are looking for a quick pullback and then a move to the 0.500 Fibo @ 1.2986.Above 1.1300 look for the 1.3109 area.Brexit still affecting this pair. Watch the USDX for direction. The average daily true range (ATR) for the pair is 92 pips.

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

What ProAct Traders See:Bullish:We are currently sitting @ 0.7142 in a range and a channel.We are looking for a continuation to the 0.382 fibo @ 0.7205.Watch for a short pullback there before resumption to the range top @ 0.7244 area. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 60 pips.

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Posted to Introduction to Forex Targe… on Feb 15, 2019 — 5:02 PM

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