$EURUSD
WHAT ProAct Traders SEE: We are currently sitting @ 1.3796 after retreating from the Down trend line (we have twins in the day chart) on the .618 Fibo. This completes an a-b-c retracement so looking for a move to the downside (although it is very early in the potential move). We will not confirm the down trend resumption until the break of the 1.3730 area. Should it break to the upside look for a move to the 1.3981 area. Targets to the downside are the .786 fibo @ 1.3667 and 1.3563 (S7) . The average daily trading range for the cross currently is 211 pips.
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$USDJPY
WHAT ProAct Traders SEE: We are currently @ 76.84. The cross is sitting just above the .786 fibo and has formed at least the start of an uptrend so we are looking for a move up to the .500 fibo @78.10. A breakdown @ the 76.60 area would target yet another move into intervention territory. The average daily trading range for the cross currently is 57 pips.
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$GBPUSD
WHAT ProAct Traders SEE: We are currently @ 1.5798 which is day chart support. The cross is building a symmetrical triangle which is also bearish. A break of the 1.5782 look for Target south: look for the S7 ( and 1.270 Fibo) @ 1.5639. The average daily trading range for the cross currently is 126 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
WHAT ProAct Traders SEE: We are currently @ 1.0369. The cross is approaching the .500 Fibo and could break south here. The .382 fibo ( with the support found there is a much more likely candidate for the reversal though. The targets down are the .786 Fibo @ 1.0281 and the S6 @ 1.0157 . The average daily trading range for the cross currently is 154 pips.
