$EURUSD
WHAT ProAct Traders SEE: We have come off the up target very nicely and we are looking for a little more correction to the trend line @ 1.4275 and then we’ll see if we get the bounce here or further down @ the .786 fibo @ 1.4245. A breakdown of the .786, target further correction to the 1.4195. Looking for a bounce to square up and then a double top.
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$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 ( S6) 79.57 support to the down side A break to the downside targets the 78.47 support. A bounce ? Look for the break up above 81.00 to the 81.81 area (.500 Fibo).
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$GBPUSD
WHAT ProAct Traders SEE: We are testing the breakdown of the uptrend and a clean break to the downside targets the .618 Fibo @ 1.6246. A break of that, look for the support @ 1.6175 or the trend line. for a continuation to the R8 target @ 1.6964. We could come back as deep as the lower trend line. Look for buyers to come back in here for a bounce back to 1.6500.
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$AUDUSD – A great smooth currency for Newbie’s!
WHAT ProAct Traders SEE: Aussie had a correction to the .382 fibo and has since bounced back into the trend line and is now resting just above the R7 @ 1.0720. A breakdown targets the .500 Fibo @ 1.0370. All pullbacks should be considered buying opportunities back to the top @1.1010.
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