$EURUSD
What ProAct Forex Target Traders See: We are currently sitting @ 1.3076. We are bearish from here having broken the bear flag to the downside. The initial downside targets are the double bottom @ 1.3034 (watch for a bounce here) and then the S5/Day chart bottom @ 1.3008 (watch for a bounce here) and overall target is the-0.270 Fib extension @ 1.2944. The average daily true range (ATR) for the cross currently is 102 pips.
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$USDJPY
What ProAct Forex Target Traders See: We are currently @ 81.03 and still in a bear flag which is bearish. The flag may continue all the way to 81.55 before shorts come in. Targets down might be the 80.41 bottom then the -2.70 Fib Extension @ 80.09. Overall target is the 79.60 area. The average daily true range (ATR) for the cross currently is 70 pips.
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$GBPUSD
What ProAct Forex Target Traders See: Cable is currently @ 1.5845 in a corrective a-b-c move to the .618 Fibo. A breakdown of the S4 @ 1.5832 would confirm a potential move initially to the support @ 1.5778 then the -0.270 Fib extension @ 1.5735 area. A break below that and look for the S5 @ 1.5688. The average daily true range (ATR) for the cross currently is 95 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: We are currently @ 1.0368 in a very nicely built downtrend. We are building a nice descending wedge currently for the break to the S4 @ 1.0325 to targets below. A break of that look to the S6 (from the high 02/29/12) @ 1.0248 and maybe the 1.0200 area. The average daily true range (ATR) for the cross currently is 96 pips.
