$EURUSD
WHAT ProAct Traders SEE: We are currently sitting just below the 1.270 Fib extenstion @ 1.4106. We are working the channel to the downside very nicely and we are looking for more breakdown to the .786 fibo @ 1.4006. Lots of barriers here ( support, R7) so a bounce is likely. A break here targets further down @ double bottom @ 1.3762. Looking for a bounce there.
——————————————————————————–
$USDJPY
WHAT ProAct Traders SEE: We have returned to the pre Tsunami area and bounced. Hard to tell yet if this is the start of the up move or simply a bear flag so caution is being exercised in the cross. We have broken out of the large downtrend but looking like we might hook back into it. The hook targets the double bottom @ 79.60. A bounce targets the R4 (.382 Fibo) @ 81.90 with further targets at the R5 @ 83.34?
——————————————————————————–
$GBPUSD
WHAT ProAct Traders SEE: We tested the .786 Fibo @ 1.6141 and currently sitting @ 1.6192. Looking for a bounce here and then resumption to the bottom @ 1.5979. There is a support @ 1.6038 that could stop or stall it. A bounce on the .786 that continues and breaks the trend line we will look for a move back to the 1.6452 are with a stall @ 1.6360.
——————————————————————————–
$AUDUSD – A great smooth currency for Newbie’s!
WHAT ProAct Traders SEE: Aussie had a correction to the .500 Fibo and has stalled @ 1.0566. A breakdown targets the .618 Fibo @ 1.0433 also the S6 with a break here targeting the .786 Fibo @ 1.0276. A bounce here targets a move back to the S4 @ 1.0781.
