$EURUSD
WHAT ProAct Traders SEE: The market finally broke the trend line to the north and currently sits at 1.3686 which is also resistance and the .618 Fibo. Expecting a pull back to the .500 fibo and then a run at the top. Should see a continuation to the .786 Fibo @ 1.3768 and then the R5 @ 1.3805.
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$USDJPY
WHAT ProAct Traders SEE: Cross continues to stay bearish and a break of the 83.11 confirms the bearish stature. Looking for an initial move to the S3 and .500 Fibo @ 82.54. A break of that targets the S4 @ 81.63. Look for bounces on major fibos and then resumption.
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$GBPUSD
WHAT ProAct Traders SEE: Cross is nearing a major top but continues to stay bullish. Should see a pull back at the top @ 1.6302 and then a break to the 1.6516 resistance. If it can break that looking for a move to the R8 (note: this is a big move for the cross) @ 1.6946 with a stall at the 618 Fibo extension @ 1.6855 . Watch for the break of the trend line to the downside but expect pullbacks to it and then bounces.
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$AUDUSD – A great smooth currency for Newbie’s!
WHAT ProAct Traders SEE: Aussie trading in a channel to the upside. We saw a break of the resistance @ 1.0112 this week and looking for follow through to the (R5) @ 1.0210 and then a move to the 1.0261. Cross is sitting at the .786 Fibo and may not break it and if not look for the move back to the R3 @ 0.998 IF it can break the trend line to the downside.
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