REMEMBER: THIS IS BIG PICTURE ONLY – NOT INTRADAY! Please NOTE!!!! This is an opinion only! CLICK ON IMAGES TO ENLARGE
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$EURUSD
WHAT ProAct Traders SEE: We have come up almost to the .786 fibo (still a chance to take it officially out). We are at the top of the channel so looking for the week to start in a bear move down. Upside risk is 1.3200. Downside targets are 1.2874 -1.2800 and 1.2600.
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$USDJPY
WHAT ProAct Traders SEE: The BOJ intervened and will see if that intervention will hold. Currently sitting just below resistance @ 85.80. Upside target is 86.63 then 87.39-50 area. Downside risk is the 84.39 area.
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$EURJPY
WHAT ProAct Traders SEE: Tough one to call- can go either way: follow the Euro or follow the YEN? We have pulled back form the .786 Fibo and if we find support at the .618 look for a bounce to the 113.94 then the 115.31. Downside risk/or target is to the 110.06.
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$AUDUSD – A great smooth currency for Newbie’s!
WHAT ProAct Traders SEE: We have taken the top out at 0.9401. sitting on support now at 0.9360 with targets north at 0.9529, 0.9657 and 0.9761. Downside risk is the .382 fibo at 0.9202
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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.
