$EURUSD
WHAT ProAct Traders SEE: We are currently sitting @ 1.3792. After a major correction last week we are continuing to build a move northward HOWEVER, this may only be a bear flag so be cautious of up moves until we have more confirmation. If we continue to the upside look for the .382 Fibo @ 1.4004. There is strong resistance @ 1.4070 and the upper Target to the upside is the R6 @ 1.4221. On a breakdown of the flag look to a double bottom @ 1.3603area and maybe the 1.3500. The average daily trading range for the cross currently is 228 pips.
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$USDJPY
WHAT ProAct Traders SEE: We are currently @ 78.24 after another intervention (we made 300 pips on the intervention trade) . We are bouncing on the .382 Fibo and could see continued downside which would court intervention again. on the sidelines until this gets sorted out. The average daily trading range for the cross currently is 98 pips.
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$GBPUSD
WHAT ProAct Traders SEE: We are currently @ 1.6034 after taking out the .382 Fibo from the Day chart and the strong resistance !1.6130. Looking for a continuation to the R7 @1.6273 with a stop @ 1.6130. A break down targets the R5 @ 1.5663 area. The average daily trading range for the cross currently is 158 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
WHAT ProAct Traders SEE: We are currently @ 1.0372 and sitting just above the day chart support line after taking out the R4 @ 1.0444. We still have a lot of bulls in the cross. Ideally, we would like to see a bounce to the heartline and then a continued run at the top again. The intermediate target up is the R5 @ 1.0584. Down targets are the double bottom @ 1.0207 and then the support @ 0.9838. The average daily trading range for the cross currently is 209 pips.
