$EURUSD
WHAT ProAct Traders SEE: We are currently sitting @ 1.4496 just below the day chart trend wall. We are stuck in a pennant that has proven very difficult to move out of. We are expecting a break of the top but cannot rule out another move back inside the pennant to the downside. If we get the break of the day chart trendline look for the 1.4585 initial target (Resistance and a 1.270 Fibo extension) and then the R6 @ 1.4664 The average daily trading range for the cross currently is 147 pips.
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$USDJPY
WHAT ProAct Traders SEE: We are currently @ 76.69. The cross is sitting just above the heart line and has broken out of the bear flag so we are looking for a move back to the double bottom (intervention territory) @76.00. The average daily trading range for the cross currently is 70 pips.
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$GBPUSD
WHAT ProAct Traders SEE: We are currently @ 1.6349. The cross bounced on the .786 Fibo and currently just below the .500 fibo. A break of the .500 Fibo 1.6400 look for Targets north: look for the .382 Fibo @ 1.6427 then the trend line break at the R4 @ 1.6442 and then the R5 @ 1.6586. The average daily trading range for the cross currently is 139 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
WHAT ProAct Traders SEE: We are currently @ 1.0579. The cross has started what looks like slow grind to the north. The targets up are the .382 Fibo @ 1.0646 then the R7 @ 1.0914. A breakdown targets a move back to the R5 @ 1.0305. The average daily trading range for the cross currently is 140 pips.
