$EURUSD
WHAT ProAct Traders SEE: We have broken the bear flag on the cross which continues to be bearish. Currently sitting on support at 1.2686. Further targets are at 1.2603, 1,2500 and 1.2462. The upside risk is to the 1.3024 area.
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$USDJPY
WHAT ProAct Traders SEE: I wrote last week: The next low is from the Month Chart at 79.73. Market is at an extreme and looking for any reason to buy on pullbacks. Critical area is a break of the down trendline probably around the 84.80 area. If a break occurs look for a move to the 86.00 area.
Nothing has changed!
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$EURJPY
WHAT ProAct Traders SEE: We have a wedge forming on the cross which is bearish. Target is initially the double bottom then the104.11. A break north would look for the 110.02.
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$AUDUSD – A great smooth currency for Newbie’s!
WHAT ProAct Traders SEE: There is still a chance to reach higher to the 0.9315 area for a top. IF the top is currently in place look for a move to the 0.9069 area. If the cross continues up to the 0.9315 area then look for a pullback to the 0.9090 area which is support from the day chart.
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EXTREME CAUTION IS URGED – TRADE WITH STOPS!!!!!
BTW – if you want to save the pics, right click and hit “save as”.
IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by ProAct Traders, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors. We monitor multiple indicators as well as established chart analysis.
There is No “Holy Grail” in trading systems. Do not use our research or any other trading system without proper research on the asset.
This is an opinion ONLY – and not a trade call, but a study that may lead you to a trade. I do not know whether this will transpire or not so use your own judgment.
