$EURUSD
WHAT ProAct Traders SEE: We are currently sitting @ 1.3387 just above the .382 Fibo. It appears that we had a strong rejection on the Down Trendline so will look for this to follow through this week. A break of 1.3291 (.618 fibo) will confirm a continued move to the downside until then a bounce is possible to the upside. Targets to the downside are the .786 Fibo @ 1.3228 and the S6 @ 1.3069. On a bounce look to break to the 1.3535 area and then the 1.3629 area. The average daily trading range for the cross currently is 187 pips.
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$USDJPY
WHAT ProAct Traders SEE: We are currently @ 76.85 after another bounce to MAYBE start the uptrend in the cross . We have a triangle which should break north. A break targets the R3 @ 77.38. Sitting on the sidelines until this gets sorted out. The average daily trading range for the cross currently is 51 pips.
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$GBPUSD
WHAT ProAct Traders SEE: We are currently @ 1.5560. We have come to the top of the Weekly down trend line and have a set of twins formed which is bearish for the cross. A break of the .382 @ 1.5546 will confirm that direction for the week (most likely).Looking for an initial run to the 1.5442 ( which confirms the down trend) and maybe to the 1.5367 (.786 Fibo) area and a break of that look for the S6 @ 1.5272. A break up targets the 1.5836 .The average daily trading range for the cross currently is 168 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
WHAT ProAct Traders SEE: We are currently @ .9779 after breaking the day chart trend line BUT we have a set of twins here which could suggest a false breakout. We are bearish and looking for a move to the S4 and .500 Fibo @ 0.9634. The target up on a bounce is the -.270 Fibo extension if it proves to be a breakout. Down targets are the .786 Fibo (S5) @ .9494 and the S6 @ .9270. The average daily trading range for the cross currently is 121 pips.
