REMEMBER: THIS IS BIG PICTURE ONLY – NOT INTRADAY! Please NOTE!!!! This is an opinion only!

Continued risk aversion likely leads to additional US dollar strength, especially against commodity currencies.

CLICK ON IMAGES TO ENLARGE

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EURUSD

WHAT ProAct Traders SEE: We have a break of the wedge as suggested last week. Now sitting on the -0.270 fibo extension. Will look for follow through to the 1.1788 area then a possible bounce before continuing down to the S7 @ 1.1688.

 

EURUSD-WIS.jpg

 

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USDJPY

WHAT ProAct Traders SEE: We are still in a slow grind northward on the day chart even after the pullback. Looking for a bounce here at the 91.58 area for a return to the R5 and then a push to the 1.270 Fib extension @ 94.43

 USDJPY-WIS.jpg

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EURJPY

WHAT ProAct Traders SEE: Could get a little bounce here and /or stay in the wedge. A break of the 109.73 would target the S8 @ 106.04 -confluence there with the -0.270 fib extension.

EURJPY-WIS.jpg

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AUDUSD – A great smooth currency for Newbie’s!

WHAT ProAct Traders SEE: We have broken out of the bear flag with near term target at 0.9129. Next target is the 0.7852 then 0.7792 ( S8).

 

AUDUSD-WIS.jpg

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EXTREME CAUTION IS URGED – TRADE WITH STOPS!!!!!

BTW – if you want to save the pics, right click and hit “save as”.

 

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.