REMEMBER: THIS IS BIG PICTURE ONLY – NOT INTRADAY! Please NOTE!!!! This is an opinion only! CLICK ON IMAGES TO ENLARGE
Note: Talk of BOJ intervention
——————————————————————————–
EURUSD
WHAT ProAct Traders SEE: A case can be made that the top is in on the cross. We have hit the .618 retracement and taken out the R6. Still more upside is not out of the question. If the top is in look for a move back to the trend line and then on a break look for 1.3100. Upside near target is 1.3370.
——————————————————————————–
USDJPY
WHAT ProAct Traders SEE: With Talk of BOJ intervention the bottom may be in for the UJ. We have taken out the 7th support at 87.02 with 5 waves. Looking for a bounce here. A break of the trend line – look for a retracement to the .318 At 88.83.
——————————————————————————–
EURJPY
WHAT ProAct Traders SEE: A triangle on the cross suggest one more move to the upside. A break of 115.00 would take out the bears. Until then we could see a move to the downside to the 111.00 area which is also the .500 fib retracement.
——————————————————————————–
AUDUSD – A great smooth currency for Newbie’s!
WHAT ProAct Traders SEE: We are sitting right above the .786 fib retracement from the day chart and again a key is what will the market do with that? 0.9241 is a short term target ( 1.618 fib extension) to the upside. A move down could produce a nice move to the 0.8731 area ( .500 fib retracement)
——————————————————————————–
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.
