Note: USDX is in a Sideways move and close to the bottom – watch for a bounce or breakout. Be aware that that could change in a heartbeat and will affect the currencies below. ATR’s are still dropping.
$EURUSD
What ProAct Traders See: Bearish: We are currently sitting @ 1.2365 in a symmetrical triangle. We have divergence for the downside move so are looking for a continuation to the 0.618 Fibo @ 1.1953 and then a bounce and further move to 1.1789. The average daily true range (ATR) for the pair currently is 81 pips.
————————————————————————--
$USDJPY
What ProAct Traders See: Waiting: We are currently @ 104.96 in a range. We have divergence for the upside move so are cautiously awaiting the start of a bullish move but could have one more move to the downside before that happens. We will be looking for a continuation to the 0.500 Fibo @ 106.46. The average daily true range (ATR) for the pair currently is 72 pips.
——————————————————————————–
$GBPUSD
What ProAct Traders See: Bearish: Cable is currently sitting @ 1.4139 in a range. We are looking for a reversal and then a continuation to the 0.786 Fibo @ 1.3850. The average daily true range (ATR) for the pair is 97 pips.
——————————————————————————–
$AUDUSD – A great smooth currency for Newbie’s!
What ProAct Traders See: Bearish: Aussie is @ 0.7702 in a large channel in a range. We are watching for a continuation down to the Day [email protected] 0.7500 area. The average daily true range (ATR) for the pair currently is 59 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.
Latest Forex Analysis
Editors’ Picks
EUR/USD recovers within range, lacks follow-through
Encouraging macroeconomic data from the EU and the US boosted risked sentiment, which in turn, helped EUR/USD to advance, currently nearing the weekly high at 1.2075.
GBP/USD trades around 1.39 after a choppy reaction to the BOE
GBP/USD is trading around 1.39 after an 80-pip move around the BOE's "Super Thursday." The bank announced a slowdown in buying bonds but no change to the overall scope. US jobless claims and elections in Scotland are awaited.
Gold Price Analysis: Gold bears seeking a correction to test bullish commitments
Gold has broken above the $1,800 mark, hitting the highest levels since February. The Confluence Detector is showing that XAU/USD has very few barriers through $1,850. Bears are lurking at resistance structure, eyeing a correction ahead of NFPs.
Dogecoin price targets $1 as the chase for high-yielding cryptos accelerates
Dogecoin price strength combined with the complementary volume highlights the continued fascination in the digital token, portending further gains in the days ahead.
US Nonfarm Payrolls April Preview: When the economy booms, its all about rates
The US labor market’s stars appear aligned for April.The economy is expanding rapidly, employers are confident and consumers eager to throw off the restraints of the past year.