$EURUSD
WHAT ProAct Traders SEE: We are currently sitting @ 1.3662 on the S6 and the heart line of the down trend. We are in a nice downtrend but could bounce here back to the .382 fibo at 1.3804. There is strong support in the 1.3430 area ( day chart). We are expecting a sideways move and then continuation of the downtrend to the 1.270 fib extension @ 1.3502 . The average daily trading range for the cross currently is 200 pips.
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$USDJPY
WHAT ProAct Traders SEE: We are currently @ 77.49. The cross is sitting just above the .382 fibo and has formed at least the start of an uptrend so we are looking for a move up to the 1.270 fib extension @78.22. A breakdown @ the 77.06 area would target yet another move into intervention territory. The average daily trading range for the cross currently is 60 pips.
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$GBPUSD
WHAT ProAct Traders SEE: We are currently @ 1.5881 which is day chart support. The cross could bounce here back to the trend wall or as high as the.382 fibo @ 1.6140. We are currently on the heart line of the downtrend so a move further is also a very high possibility. A break of the 1.5839 look for Targets south: look for the support @ 1.5666 then the S7 ( and 1.270 Fibo) @ 1.5631. The average daily trading range for the cross currently is 158 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
WHAT ProAct Traders SEE: We are currently @ 1.0422. The cross is approaching the trend line but this is a fairly shallow trend so a break further down would not surprise us. We are expecting an initial bounce @ 1.0389 (s5) to the heart line but could easily break and go to the 1.270 fib extension @ 1.0286. The targets down are S6 @ 1.0162 ( also the 1.618 fib extension area). The average daily trading range for the cross currently is 140 pips.
