$EURUSD
What ProAct Forex Target Traders See: We are currently sitting @ 1.3432. The pair is in a nice channel inside the downtrend. We are looking for continuation to the S6 @ 1.3354 and a corrective bounce there for a continuation to 1.3110. The average daily true range (ATR) for the pair currently is 40 pips.
—————————————————————————--
$USDJPY
What ProAct Forex Target Traders See: We are currently @ 101.84. We are still in a range and the failure of the descending wedge break could mean the bulls are back. If so look for the R4 @ 103.09 as the target. A break down targets the 0.618 Fibo @ 99.83. The average daily true range (ATR) for the pair currently is ONLY 27 pips.
——————————————————————————–
$GBPUSD
What ProAct Forex Target Traders See: Cable is currently sitting @ 1.6977. We are still making new highs but reacted nicely at the 0.618 Fibo ( which ultimately may be a right shoulder of a head and shoulders reversal). Look for the continuation to the R9 @ 1.7394. The average daily true range (ATR) for the pair currently is 57 pips.
——————————————————————————–
$AUDUSD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: Aussie is @ 0.9396 and attempting a trend breakout after a head & shoulders reversal pattern. IF it continues look to break the neckline and then go to the former R6 target @ the 0.382 Fibo and then the 0500 Fibo @ 0.9198 which is a support area. The average daily true range (ATR) for the pair currently is 46 pips.
What ProAct Forex Target Traders See: We are currently sitting @ 1.3432. The pair is in a nice channel inside the downtrend. We are looking for continuation to the S6 @ 1.3354 and a corrective bounce there for a continuation to 1.3110. The average daily true range (ATR) for the pair currently is 40 pips.
—————————————————————————--
$USDJPY
What ProAct Forex Target Traders See: We are currently @ 101.84. We are still in a range and the failure of the descending wedge break could mean the bulls are back. If so look for the R4 @ 103.09 as the target. A break down targets the 0.618 Fibo @ 99.83. The average daily true range (ATR) for the pair currently is ONLY 27 pips.
——————————————————————————–
$GBPUSD
What ProAct Forex Target Traders See: Cable is currently sitting @ 1.6977. We are still making new highs but reacted nicely at the 0.618 Fibo ( which ultimately may be a right shoulder of a head and shoulders reversal). Look for the continuation to the R9 @ 1.7394. The average daily true range (ATR) for the pair currently is 57 pips.
——————————————————————————–
$AUDUSD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: Aussie is @ 0.9396 and attempting a trend breakout after a head & shoulders reversal pattern. IF it continues look to break the neckline and then go to the former R6 target @ the 0.382 Fibo and then the 0500 Fibo @ 0.9198 which is a support area. The average daily true range (ATR) for the pair currently is 46 pips.
Recommended Content
Editors’ Picks
AUD/USD extends gains due to improved risk appetite
The Australian Dollar maintained its winning streak for the fourth consecutive session on Monday, buoyed by a hawkish sentiment surrounding the Reserve Bank of Australia. This optimism bolsters the strength of the Aussie Dollar, providing support to the AUD/USD pair.
USD/JPY snaps three-day losing streak above 153.50, Yellen counsels caution on currency intervention
The USD/JPY pair snap a three-day losing streak during the Asian trading hours on Monday. The uptick of the pair is bolstered by the modest rebound of the US Dollar and US Treasury Secretary Janet Yellen’s comments on potential Japanese interventions last week.
Gold holds below $2,300, Fedspeak eyed
Gold price loses its recovery momentum around $2,295 on Monday during the early Asian session. Investors will keep an eye on Fedspeaks this week, along with the first reading of the US Michigan Consumer Sentiment Index for May on Friday.
Bitcoin Cash could become a Cardano partnerchain as 66% of 11.3K voters say “Aye”
Bitcoin Cash is the current mania in the Cardano ecosystem following a proposal by the network’s executive inviting the public to vote on X, about a possible integration.
Week ahead: BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.