$EURUSD
WHAT ProAct Traders SEE: We have come up almost to the .500 fibo which could be a key reversal area for the cross. Immediately after that if it continues north there are lots of barriers in the form of key resistance areas so will look for some consolidation there. Upper target is the .618 at 1.3917. Downside targets are 1.3253 and 1.3198.
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$USDJPY
WHAT ProAct Traders SEE: The BOJ intervention seems to not be holding. Next target down is the S4 at 83.52 area. Upside target is 86.02 then 86.74 area.
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$EURJPY
WHAT ProAct Traders SEE: Testing the top of a ascending wedge with multiple closes above the top. Multiple targets above: 115.06 ( 4.236 fibo extension) and the R7 at 115.66. Downside risk to the 112.10 area.
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$AUDUSD – A great smooth currency for Newbie’s!
WHAT ProAct Traders SEE: looking for continuation of the uptrend. Targets at 0.9761, 0.9900, 0.9941.
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EXTREME CAUTION IS URGED – TRADE WITH STOPS!!!!!
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.
