$EURUSD – critical area:
Currently we are at 1.2942. The cross Pulled off the Down Trendline that coincides with the .382 fibo and we are starting wave 5 to the downside starting at the 1.3458 top. A set of Twinds confirms the close and reverse here. The down target is the 1.2785 support followed by the 1.2733. The overall target is the S7 @ A 1.2564. The average daily range for the cross is just 89 pips.
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$USDJPY:
Currently we are at 77.74. The cross broke south in the ascending wedge indicating a move to the .786 Fibo @ 76.42. Look for a bounce when it hits there back to 77.56 area. The average daily range for the cross is 36 pips.
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$GBPUSD:
Currently we are at 1.5532. The cross is still showing bearish signs after a strong move up and then the pullback at the .500 Fibo. A break down targets the 1.5346 area. We continue to have lower highs and lower lows. After that a move to the 1.5272 Day chart Support ( bottom) should happen. The average daily range for the cross is 126 pips.
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$AUDUSD:
Currently we are at 1.0229. The cross is stuck in a large wedge and showing signs of trying to break north with the first test underway. A “clean” break of the wedge north would signal a move to the 1.618 Fib Extension @ 1.0299 with the upper target being the 1.0557 (1.4236 fib extension). Should we not get a break look for a return to the R5 @ 1.0042. The average daily range for the cross is 82 pips.
