$EURUSD
WHAT ProAct Traders SEE: A little more correction to the R6 @ 1.4768 and then we’ll see if we get the bounce. There is continued pressure to move to the 1.270 Fib extension @ 1.4988. A break of the 1.4988 targets the top of the 1.5145 (R7) area. A breakdown of the trend line target further correction to the 0.618 Fibo @ 1.4688.
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$USDJPY
WHAT ProAct Traders SEE: We have returned to the pre Tsunami are are in a large downtrend. Be careful of an intervention should we break the 81.07 support to the down side A break to the downside targets the 80.21 support and the S6 @ 79.35. A bounce ? Look for the .500 Fibo @ 83.12.
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$GBPUSD
WHAT ProAct Traders SEE: We are in a nice uptrend and looking for a pull back or a sideways move for a continuation to the R8 target @ 1.6964. We could come back as deep as the lower trend line. Look for buyers to come back in here. A break of the lower trend line to the downside targets the 0.618 Fibo @ 1.5882 area
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$AUDUSD – A great smooth currency for Newbie’s!
WHAT ProAct Traders SEE: Aussie continues to set new highs as it broke the former top @ 1.0778. We had a small correction and is now testing the top of the trend wall.Cross should continue to have small corrections as it continues to create new highs. Our immediate target is the R6 @ 1.1000. All pullbacks should be considered buying opportunities.
