Note: Currently USDX is bearish – affects the direction below
$EURUSD
What ProAct Forex Target Traders See: We are currently sitting @ 1.1945 in a range. We are looking to continue up to the 0.214 Fibo @ 1.2039 and ultimately to the double top @ 1.2095. The average daily true range (ATR) for the pair currently is 83 pips.
————————————————————————--
$USDJPY
What ProAct Forex Target Traders See: We are currently sitting @ 110.84 at the top of the range and the USDX is bearish. We are looking to move to the 0.618 Fibo @ 108.74 and then to the double bottom @ 107.32. The average daily true range (ATR) for the pair currently is 95 pips.
——————————————————————————–
$GBPUSD
What ProAct Forex Target Traders See: We are currently sitting @ 1.3585 after the crazy moves last week. A couple of different scenarios – both bullish: 1: a sideways move and then a finish at the R6/1.270 Fibo @ 1.3735 area and 2: A pullback to the 0.382 Fibo @ 1.3436 and then a finish at the R6/1.270 Fibo @ 1.3735 area. The average daily true range (ATR) for the pair currently is 109 pips.
——————————————————————————–
$AUDUSD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: We are currently sitting @ 0.8003 after completing a 4thwave. We are looking initially for a move to the double top @ 0.8126 with an overall target of 0.8180. The average daily true range (ATR) for the pair currently is 64 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.