REMEMBER: THIS IS BIG PICTURE ONLY – NOT INTRADAY! Please NOTE!!!! This is an opinion only!
SPECIAL NOTE:
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EURUSD
1) WHAT I SEE: I wrote last week: Looking for a pullback to the 0.382 and then resumption to the S6 ( 1.3212) and then 1.3117.
It went to the 1.3190 before pulling back. We are potentially in the 5th wave down so looking for the targets at the fib extensions and intimately at the S9 @ 1.2550
USDJPY
WHAT I SEE: – I wrote last week: Now looking for continuation to the R6 (94.22)
It went to the 94.70. If we can get a break here of resistance will look for 96.12 98.00
EURJPY – ALWAYS MY PREFERRED TRADE!!!!!
WHAT I SEE: – I wrote last week: Cross is still ranging. Looking for that to continue until we get some definitive direction.
We finally broke the inner trendlin e to the upside. Look for the 129.50 area for targets
AUDUSD – A great smooth currency for Newbies!
WHAT I SEE: We have continued the march up despite so many signals saying we will fall. 9237 is a critical area. If it breaks look for 200 pips north, Still could fall though since we are at a high level on the Day/week.
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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. 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.
