$EURUSD
WHAT ProAct Traders SEE: We are currently sitting @ 1.4250 and caught in a wedge on the day chart and slowly getting squeezed. We are at the .618 Fibo. We are expecting a run to the top @ 1.4400 but it looks like we will go that in the chop. We cannot rule out the 1.4100 to the downside. Looking first for a break of the .500 fibo to confirm the up move. The average daily trading range for the cross currently is 231 pips.
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$USDJPY
WHAT ProAct Traders SEE: We are currently @ 76.81. We all know that we have had an intervention by now as the BOJ attempts to establish an uptrend in the cross but the market is not taking it – every move is countered with an immediate pullback to the former or more low. The cross is sitting just above the low of 76.22 and we are looking for a move back to the R5 @80.05 if we get another intervention. The technical’s actually show a bearish bias with targets down at 75.79 and 74.90. Sitting on the sidelines until this gets sorted out. The average daily trading range for the cross currently is 126 pips.
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$GBPUSD
WHAT ProAct Traders SEE: We are currently @ 1.6280. The cross bounced out of the day chart down trend wall and currently just below the .500 fibo. A break of the 1.6280 look for Targets north: look for the R6 @ 1.6390 then the triple top @ 1.6478. A break down targets the R5 @ 1.6158 and a break out targets the 1.6014. The average daily trading range for the cross currently is 180 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
WHAT ProAct Traders SEE: We are currently @ 1.0353 after putting in a bottom @ 0.9928. The cross is printing an ascending wedge which is bullish. The target up on the break is the R6 @ 1.0554 then the .382 fibo @ 1.0628. A breakdown targets a move back to the 1.0170. The average daily trading range for the cross currently is 260 pips.
