REMEMBER: THIS IS BIG PICTURE ONLY – NOT INTRADAY! Please NOTE!!!! This is an opinion only! CLICK ON IMAGES TO ENLARGE
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EURUSD
WHAT ProAct Traders SEE: We are approaching the .500 fib and the 6th support. Might see a little bounce here but targeting the 1.2601 area (.618 fibo from the swing high and low and the 2.618 Fib extensions). Further targets south are 1.2403 and 1.2347 later this week.
Video here – http://tinyurl.com/26aohbk
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USDJPY
WHAT ProAct Traders SEE: We have bounced off the bottom at the 85.00 area and testing the trend line for a break. Looking for a move initially back to the 88.83 area where the 5th resistance is and the .382 fib is. Further targets up are the .500 fib retracement at 90.00 and the strong resistance at 91.00 area.
Video here http://tinyurl.com/25arz5n
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EURJPY
WHAT ProAct Traders SEE: All indicators are pointing to a down move. Next target is the 108.66 ( 6th support) then support again at the 108.25. Bib Target at 104.89.
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AUDUSD – A great smooth currency for Newbie’s!
WHAT ProAct Traders SEE: We are sitting right on the 4th support at 0.8926 after breaking the inner channel to the downside. A break of the S4 targets the S5 at 0.8788 further targets are 0.8555 and 0.8522.
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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. We monitor multiple indicators as well as established chart analysis.
There is No “Holy Grail” in trading systems. Do not use our research or any other trading system without proper research on the asset.
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.
