$EURUSD
What ProAct Forex Target Traders See: We are currently sitting @ 1.1203. Structure shows we are in a large range with a bullish bias. We are looking for a directionless movement until after FOMC. The average daily true range (ATR) for the pair currently is 107 pips.
————————————————————————--
$USDJPY
What ProAct Forex Target Traders See: We are currently @ 120.10 and still ranging and also in a wedge. A couple of different scenarios: 1: Bullish: a move to the top of the range and a bounce – look to the 125.00 and 2: Bearish: A break down to the support @ 118.15/ 166.21. The average daily true range (ATR) for the pair currently is 93 pips.
——————————————————————————–
$GBPUSD
What ProAct Forex Target Traders See: Sterling needs to correct to the 1.5330-82 area before a resumption to the downside. After a correction, look to the 1.5028 area. The average daily true range (ATR) for the pair currently is 101 pips.
——————————————————————————–
$AUDUSD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: Aussie is @ 0.7044 and in a sideways move. Still too early to tell if it will continue the sideways move to the downside and if not, expect that Wave 4 is the bottom of the range. Target now is up to 0.7126 Breakdown look to 0.6937. The average daily true range (ATR) for the pair currently is 76 pips.
What ProAct Forex Target Traders See: We are currently sitting @ 1.1203. Structure shows we are in a large range with a bullish bias. We are looking for a directionless movement until after FOMC. The average daily true range (ATR) for the pair currently is 107 pips.
————————————————————————--
$USDJPY
What ProAct Forex Target Traders See: We are currently @ 120.10 and still ranging and also in a wedge. A couple of different scenarios: 1: Bullish: a move to the top of the range and a bounce – look to the 125.00 and 2: Bearish: A break down to the support @ 118.15/ 166.21. The average daily true range (ATR) for the pair currently is 93 pips.
——————————————————————————–
$GBPUSD
What ProAct Forex Target Traders See: Sterling needs to correct to the 1.5330-82 area before a resumption to the downside. After a correction, look to the 1.5028 area. The average daily true range (ATR) for the pair currently is 101 pips.
——————————————————————————–
$AUDUSD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: Aussie is @ 0.7044 and in a sideways move. Still too early to tell if it will continue the sideways move to the downside and if not, expect that Wave 4 is the bottom of the range. Target now is up to 0.7126 Breakdown look to 0.6937. The average daily true range (ATR) for the pair currently is 76 pips.
ProAct Traders™ (hereafter, PAT) assumes no responsibility for errors, inaccuracies, or omissions, nor does it warrant the accuracy or completeness of the information in the materials that comprised the text, graphics or other items contained in the ProAct Charts as a result of computer or power failures or interruptions in the electronic delivery systems via the Internet. PAT shall not be liable for any special, indirect, incidental or consequential damages including without limitation losses, lost revenue, or lost profits that may result from these materials.
Foreign Currency Trading carries a level of risk / reward that may not be suitable for all considering participation in the market known as Forex. The Forex is a "zero sum" market and its end effect is that there are an equal number of winners and losers. Consequently, the possibility exists that you could sustain an eventual loss of some or all of you initial investment. Therefore, you should never invest money that you cannot afford to lose. Before deciding to trade the Forex, you should become thoroughly educated in how the market works, have a sound money management plan and then carefully consider your investment objectives, level of experience, and risk appetite. If you have any doubts, seek advice from an independent financial advisor.
Recommended Content
Editors’ Picks
EUR/USD rises toward 1.0700 after Germany and EU PMI data
EUR/USD gains traction and rises toward 1.0700 in the European session on Monday. HCOB Composite PMI data from Germany and the Eurozone came in better than expected, providing a boost to the Euro. Focus shifts US PMI readings.
GBP/USD regains 1.2350 ahead of UK PMIs
GBP/USD is recovering ground above 1.2350 in the European session, as the US Dollar comes under fresh selling pressure on improving risk sentiment. The further upside in the pair could be capped, as traders await the UK PMI reports for fresh trading impetus.
Gold price flirts with $2,300 amid receding safe-haven demand, reduced Fed rate cut bets
Gold price (XAU/USD) remains under heavy selling pressure for the second straight day on Tuesday and languishes near its lowest level in over two weeks, around the $2,300 mark heading into the European session.
PENDLE price soars 10% after Arthur Hayes’ optimism on Pendle derivative exchange
Pendle is among the top performers in the cryptocurrency market today, posting double-digit gains. Its peers in the altcoin space are not as forthcoming even as the market enjoys bullish sentiment inspired by Bitcoin price.
US S&P Global PMIs Preview: Economic expansion set to keep momentum in April
S&P Global Manufacturing PMI and Services PMI are both expected to come in at 52 in April’s flash estimate, highlighting an ongoing expansion in the private sector’s economic activity.