NOTE: Watch the USDX – nearing a bounce point

$EURUSD

What ProAct Forex Target Traders See: We are currently sitting @ 1.0843 in a large range. A couple of different scenarios: 1: Bullish: a move to the 0.214 Fibo @ 1.0667 area and 2: Bearish: A break down to the 0.618 Fibo @ 1.0645. Look to the USDX for clues. The average daily true range (ATR) for the pair currently is 66 pips.

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$USDJPY

What ProAct Forex Target Traders See: We are currently sitting @ 110.69 in a large channel in a range. We are looking for a continued break down to the Day bottom @ 109.80 and a possible bounce there. IF we get a continuation to the 1.28@ Fibo @ 108.00. The average daily true range (ATR) for the pair currently is 78 pips.

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$GBPUSD

What ProAct Forex Target Traders See: Cable is currently @ 1.2510. We are in a large range and in a tight channel. We are initially looking for a move to the square up @ 1.2642 and maybe to the 1.2701 area. The average daily true range (ATR) for the pair currently is 83 pips.

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$AUDUSD – A great smooth currency for Newbie’s!

What ProAct Forex Target Traders See: Aussie is @ 0.7630 in a range. A couple of different scenarios: 1: Bullish: a move to the upper resistance @ 0.7734 area (we have divergence in play for this) 2: Bearish: A break down to the bottom@ 0.7493. The average daily true range (ATR) for the pair currently is 54 pips.