$EURUSD
WHAT ProAct Traders SEE: We are currently sitting @ 1.4156 after a break of the bear flag. Cross should continue down to theS7 @ 1.3979 and then the 1.270 Fib extension @ 1.3810. Lots of barriers at this target ( support) so a bounce or sideways move is likely. A break here targets further down @ S8/1.786 fib extension – 1.3344. Looking for a bounce there all the way back up – it can turn anywhere they decide to dump dollars. The average daily trading range for the cross is 165 pips.
——————————————————————————–
$USDJPY
WHAT ProAct Traders SEE: Hard to tell yet if this is the up move or simply a bear flag so caution is being exercised in the cross. We are currently @ 81.68 just below the .382 Fibo and the R4. A sideways move would help determine if the cross will break up here and go to the .500 Fibo or all the way to the .618 fibo and the R5 @ 83.27. A breakdown targets the return to the R1 @ 80.17.The average daily trading range for the cross is 68 pips.
——————————————————————————–
$GBPUSD
WHAT ProAct Traders SEE: We have bottomed on the S6 @ 1.6138 and are currently @ 1.6249 after taking out the trend line top. A break up here would target the .500 Fibo @ 1.6424. A break to the downside would keep the trend intact and target the S6 again and a break here, look for a fast ride to the 1.600 area. The average daily trading range for the cross is 137 pips.
——————————————————————————–
$AUDUSD – A great smooth currency for Newbie’s!
WHAT ProAct Traders SEE: Aussie stuck in a big sideways move and showing hints of further correction to the downside. Currently @ 1.0672 but testing the .382 Fibo @ 1.0719 has so far proved futile to the upside. A breakdown targets the confluence of the S6 and the 1.270 Fib extension @ 1.0408. A bounce is possible here. Further downside targets are the 1.618 Fib extension @ 1.0243. A break to the upside targets the .786 Fibo @ 1.0911. The average daily trading range for the cross is 126 pips.
