REMEMBER: THIS IS BIG PICTURE ONLY – NOT INTRADAY! Please NOTE!!!! This is an opinion only!
Article to read: http://tinyurl.com/252guj8
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EURUSD
WHAT ProAct Traders SEE: The Euro strengthened due to the Stress test this last week. Will look to see if it continues. Technically we are at the .786 fib of the last leg and could build a nice head and shoulders form here. If so look for the fall back to the .786 fib Extension. A break north has a big target at 1.3236.
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USDJPY
WHAT ProAct Traders SEE:
We are currently in a bear flag down on the 240 and at the bottom on the .382 fib retracement. Will look for a breakout to the downside after the break of the flag to 85.49 area (S5 and .270 fib extension).
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EURJPY
WHAT ProAct Traders SEE: With the Euro strengthening we may see a break out north. If so look for 114.92 area. If the top holds look to return to the 109.51 area ( S5).
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AUDUSD – A great smooth currency for Newbie’s!
WHAT ProAct Traders SEE: We have had a break of the top at 89.05. looking to continue to the 0.9064 area with further targets at 0.9111 ( .786 fib retracement) and the 0.9141 (.786 fib Extension).
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EXTREME CAUTION IS URGED – TRADE WITH STOPS!!!!!
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IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by ProAct Traders, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors. We monitor multiple indicators as well as established chart analysis.
There is No “Holy Grail” in trading systems. Do not use our research or any other trading system without proper research on the asset.
This is an opinion ONLY – and not a trade call, but a study that may lead you to a trade. I do not know whether this will transpire or not so use your own judgment.
