$EURUSD
WHAT ProAct Traders SEE: We are currently sitting @ 1.3878 just above the .500 Fibo from the day chart. It appears that we still have some upside potential so will look for this to follow through this week. Targets to the upside are the .382 Fibo @ 1.4016 (also day chart resistance so it could turn it) and the -270 Fib Extension @ 1.4097. On a breakout look to break to the .500 Fibo @ 1.3521 area. The average daily trading range for the cross currently is 196 pips.
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$USDJPY
WHAT ProAct Traders SEE: We are currently @ 77.21 after another bounce to MAYBE start the uptrend in the cross . We have a hard top @ 77.70 which has to be broken to start any uptrend. A break targets the R4 @ 78.30. Sitting on the sidelines until this gets sorted out. The average daily trading range for the cross currently is 49 pips.
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$GBPUSD
WHAT ProAct Traders SEE: We are currently @ 1.5808. We have broken the .500 Fibo and a strong resistance from the day chart which is bullish for the cross. Looking for an initial run to the R6 @1.5902 and maybe to the 1.6002 (resistance) area. A break down targets the R4 @ 1.5493 area. The average daily trading range for the cross currently is 173 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
WHAT ProAct Traders SEE: We are currently @ 1.0343 and sitting at the the day chart trend line. Would expect to see a strong pullback here but it looks like we have a lot of bulls still in the cross. The target up on a break is the -.270 Fibo extension @ 1.0602. Down targets are the .382 Fibo (R6) @ 1.001. The average daily trading range for the cross currently is 190 pips.
