$EURUSD
WHAT ProAct Traders SEE: We are currently sitting @ 1.3897 just above the .trend line from the day chart. This break could provide some more upside potential so will look for this to follow through this week. Targets to the upside are the R5 @ 1.4032 and the -270 Fib Extension (R7) @ 1.4124. On a break down look to break to the .500 Fibo @ 1.3531 area. The average daily trading range for the cross currently is 170 pips.
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$USDJPY
WHAT ProAct Traders SEE: We are currently @ 76.14 after another fall. We have a hard bottom here which has to be broken to start any more down trend. WE are expecting a bounce back to 76.98. Sitting on the sidelines until this gets sorted out. The average daily trading range for the cross currently is 58 pips.
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$GBPUSD
WHAT ProAct Traders SEE: We are currently @ 1.5960. We have broken the .500 Fibo from the day chart (also the .618 extension). Looking for a continuation to the R7@1.6258 with a stop at the .382 Fibo @ 1.6106. A break down targets the R5 @ 1.5648 area. The average daily trading range for the cross currently is 148 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
WHAT ProAct Traders SEE: We are currently @ 1.0349 and sitting just under the day chart trend line. Would expect to see a strong pullback here but the cross has formed a wedge so it looks like we have a lot of bulls still in the cross. The target up on a break is the 1.270 Fibo extension @ 1.0785. Down targets are the (R5) @ 0.9778. The average daily trading range for the cross currently is 174 pips.
