What ProAct Forex Target Traders See: We are currently sitting @ 1.3140. The pair is close to our near term target of 1.3088. We are looking for a short correction up to start a 4th wave up before the resumption to the downside. The average daily true range (ATR) for the pair currently is 52 pips.
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$USDJPY
What ProAct Forex Target Traders See: We are currently @ 105.05 just 9 pips above the103.96 where we were a week ago. We are no longer in a range but we are still ranging 9Just is a very tight area) and have 3 nice waves in place. We are looking for a corrective wave back to the 103.00-13 area and then a bounce to the target @ 104.86. The average daily true range (ATR) for the pair currently is 44 pips.
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$GBPUSD
What ProAct Forex Target Traders See: Cable is currently sitting @ 1.6603. We expect a bounce shortly but the rectangle suggests more downside first. Our immediate target is the 1.618 fibo @ 1.6465. The average daily true range (ATR) for the pair currently is 50 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: Aussie is @ 0.9284 and appears to have finished a 4th corrective wave. We are looking to continue down to the S3 target of the 5th wave @ 0.9231 with a possible bottom at the 0.9200 area. The average daily true range (ATR) for the pair currently is 40 pips.
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Editors’ Picks
AUD/USD holds above 0.6500 in thin trading
The Australian Dollar managed to recover ground against its American rival after AUD/USD fell to 0.6484. The upbeat tone of Wall Street underpinned the Aussie despite broad US Dollar strength and tepid Australian data.
EUR/USD comfortable below 1.0800 lower lows at sight
The EUR/USD pair lost ground on Thursday and settled near a fresh March low of 1.0774. Strong US data and hawkish Fed speakers comments lead the way ahead of the release of the US PCE Price Index on Friday.
Gold price finishes Thursday’s session set to reach new all-time highs
Gold price rallied during the North American session on Thursday and hit a new all-time high of $2,225 in the mid-North American session. Precious metal prices are trending higher even though US Treasury yields are advancing, underpinning the Greenback.
Bitcoin price extends retreat from $69K as old whales shift their holdings to new whales
Bitcoin price continues to move further away from the $69,000 threshold, gaining ground as BTC bulls hope for a retest of the $73,777 peak. This is because of the general assumption that clearing this blockade would set the tone for a reach higher, marking a new all-time high.
Bears have been standing before a steamroller so far this year
Despite a pushback on rate cuts from Christopher Waller, and what was supposed to be cautious trading sentiment ahead of critical US inflation data released later on Friday, the S&P 500 rose on Thursday, marking its best first-quarter performance in five years.