$EURUSD
What ProAct Forex Target Traders See: We are currently sitting @ 1.1222 in a range. As long as USDX is correcting we are looking for a continuation move down to the 0.500 Fibo@ 1.1104 and then more continuation to the 0.786 Fibo @ 1.0943. The average daily true range (ATR) for the pair currently is 84 pips.
————————————————————————--
$USDJPY
What ProAct Forex Target Traders See: We are currently @ 111.62. A couple of different scenarios: 1: Bullish: a move to the 1.618 Fibo @ 114.39 area and 2: Bearish: A break down (indicates this was a 4th wave) to the S8 @ 105.82. The average daily true range (ATR) for the pair currently is 102 pips.
——————————————————————————–
$GBPUSD
What ProAct Forex Target Traders See: Cable is currently @ 1.4126 and in a large range. A couple of different scenarios: 1: Bullish: a move to the Day chart top @ 1.4654 area and 2: Bearish: A break down to the 0.618 Fibo support @ 1.4098. The average daily true range (ATR) for the pair currently is 125 pips.
——————————————————————————–
$AUDUSD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: Aussie is @ 0.7713 and is in a breakout of the short trend. We are looking for a continuation move down to the square up @ 0.7675 and then possible more continuation to the bottom @ 0.7500. The average daily true range (ATR) for the pair currently is 96 pips.
What ProAct Forex Target Traders See: We are currently sitting @ 1.1222 in a range. As long as USDX is correcting we are looking for a continuation move down to the 0.500 Fibo@ 1.1104 and then more continuation to the 0.786 Fibo @ 1.0943. The average daily true range (ATR) for the pair currently is 84 pips.
————————————————————————--
$USDJPY
What ProAct Forex Target Traders See: We are currently @ 111.62. A couple of different scenarios: 1: Bullish: a move to the 1.618 Fibo @ 114.39 area and 2: Bearish: A break down (indicates this was a 4th wave) to the S8 @ 105.82. The average daily true range (ATR) for the pair currently is 102 pips.
——————————————————————————–
$GBPUSD
What ProAct Forex Target Traders See: Cable is currently @ 1.4126 and in a large range. A couple of different scenarios: 1: Bullish: a move to the Day chart top @ 1.4654 area and 2: Bearish: A break down to the 0.618 Fibo support @ 1.4098. The average daily true range (ATR) for the pair currently is 125 pips.
——————————————————————————–
$AUDUSD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: Aussie is @ 0.7713 and is in a breakout of the short trend. We are looking for a continuation move down to the square up @ 0.7675 and then possible more continuation to the bottom @ 0.7500. The average daily true range (ATR) for the pair currently is 96 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 holds above 1.0750 to start the week
EUR/USD trades in positive territory above 1.0750 in the European session on Monday. The US Dollar struggles to find demand following Friday's disappointing labor market data and helps the pair hold its ground.
GBP/USD edges higher toward 1.2600
Following Friday's volatile action, GBP/USD pushes higher toward 1.2600 on Monday. Soft April jobs report from the US and the modest improvement seen in risk mood make it difficult for the US Dollar to gather strength.
Gold rebounds above $2,310 after downbeat NFP data, eyes on Fedspeak
Gold price trades in positive territory above $2,310 after closing the previous week in the red. The weaker-than-expected US employment data have boosted the odds of a September Fed rate cut, hurting the USD and helping XAU/USD find support.
Addressing the crypto investor dilemma: To invest or not? Premium
Bitcoin price trades around $63,000 with no directional bias. The consolidation has pushed crypto investors into a state of uncertainty. Investors can expect a bullish directional bias above $70,000 and a bearish one below $50,000.
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.