This is what I see in the Forex starting the week of Sept 6th – an OPINION ONLY: www.proacttraders.com

I do these three currency pairs because they represent a cross section of the market as a whole – all matching up to possible opportunities on Wild Card, 6 Aces and Royal Flushes (Trending and Elliott Wave) and they represent correlating other currencies.

Example: due to it’s very close correlation the EURUSD will show you what the USDCHF will possibly do going the other way!

This way whatever trader you are you have an idea of what the possibilities might be.

REMEMBER: THIS IS BIG PICTURE ONLY – NOT INTRADAY! Please NOTE!!!! This is an opinion only!

What I see…the currencies MIGHT do next week? NOTE: IF YOU ARE UNSURE – STAY ON THE SIDELINES!’

SPECIAL NOTE:

Monday is a holiday in the USA – ProAct Traders offices are closed.

CLICK ON IMAGES TO ENLARGE

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EURUSD

WHAT I SEE: The EURUSD has moved above the R3 at the 1.4338 level. If it respects the Trendline look for a 50.0% retracement at the 1.4275 level. If it breaks out north look ofr the 1.4425 area ( R4)

EURUSD1.jpg

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USDJPY

WHAT I SEE: – The USDJPY continued UP to the 93.31 target . We have broken above the clear down trend in place so it will depend on what traders do with the dollar. This is also a potential bear flag????. If we break south look for a move to the S3 at 91.89. If a continuation up happens will look to the next target at 94.24

USDJPY1.jpg

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EURJPY – ALWAYS MY PREFERRED TRADE!!!!!

WHAT I SEE: – The EURJPY is back down testing the 0.382% retracement resistance at the 133.97 level. We have broken the trend line south. A break North will target the 134.88 R5 level. The move lower is targeted for 132.00.

 EURJPY.jpg

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EXTREME CAUTION IS URGED – TRADE WITH STOPS!!!!!

BTW – if you want to save the pics, right click and hit “save as”.

 

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.