$EURUSD
WHAT ProAct Traders SEE: We are currently sitting @ 1.4395 just under the day chart Trend line. Ws have made 5 attempts to break to the upside. We are expecting a run out the top to 1.4632 but we cannot rule out the 1.4300 to the downside on a failure to breakout. The average daily trading range for the cross currently is 181 pips.
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$USDJPY
WHAT ProAct Traders SEE: We are currently @ 76.55. We all know that NODA has intimated that at 76.00 on the cross he would intervene to try and start the uptrend in the cross . Looks like the market gave him the bounce w/o the intervention. Still any move to the downside has intervention risk. The cross is in a descending wedge and the technical’s show a bearish bias with targets down at 74.40 and 74.15. Sitting on the sidelines until this gets sorted out. The average daily trading range for the cross currently is 55 pips.
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$GBPUSD
WHAT ProAct Traders SEE: We are currently @ 1.6477. The cross squared up hard on Friday after the failure to break the resistance @ 1.6600. It is sitting now just below the R5. Looking for another run to the 1.6600 and a break of that look for the 1.6624 resistance then the R6 @ 1.6725 ( also is the 1.270 fib extension and a 4.238 fib extension. A break down targets the .500 fibo @ 1.6351 .The average daily trading range for the cross currently is 161 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
WHAT ProAct Traders SEE: We are currently @ 1.0404 after putting in a bottom @ 1.0342. The cross is printing slow move to the upside and while above 1.0342 it is bullish. The target up on the break is the R6 @ 1.0546 then the .382 fibo @ 1.0647. A breakdown targets a move back to the 1.0177. The average daily trading range for the cross currently is 168 pips.
