REMEMBER: THIS IS BIG PICTURE ONLY – NOT INTRADAY! Please NOTE!!!! This is an opinion only!
SPECIAL NOTE:
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EURUSD
1) WHAT I SEE: I wrote last week: Look for a little consolidation and then continuation to the S5 ( 1.3445) and the 1.270 extension at 1.3407. did that and more. Looking for a pullback to the 0.382 and then resumption to the S6 ( 1.3212) and then 1.3117.
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USDJPY
WHAT I SEE: – I wrote last week: The cross is slowly headed to the upside and if we can get the break of the DAY trendline, should see a move to the R5 91.89, with a higher target of 92.46 ( Resistance). Did that. Now looking for continuation to the R6 (94.22)
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EURJPY – ALWAYS MY PREFERRED TRADE!!!!!
WHAT I SEE: – Cross is still ranging. Looking for that to continue until we get some definitive direction
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AUDUSD – A great smooth currency for Newbies!
WHAT I SEE: I wrote last week: …. If it does break south look for 0.9042 to hold. Did that. The cross is still trying to move down. Look for an initial target of the .500 retracement and maybe follow through to .8894
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EXTREME CAUTION IS URGED – TRADE WITH STOPS!!!!!
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IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by ProAct Traders, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors. This is an opinion ONLY – and not a trade call, but a study that may lead you to a trade. I do not know whether this will transpire or not so use your own judgment.
