Note: USDX is strengthening – should affect all USD pairs

$EURUSD

What ProAct Forex Target Traders See: We are currently sitting @ 1.1768 inside a channel in a range. We are looking for an initial move down to the 0.786 Fibo @ 1.1669 and then the continuation to the range bottom @ 1.557. The average daily true range (ATR) for the pair currently is 67 pips.

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$USDJPY

What ProAct Forex Target Traders See: We are currently sitting @ 113.52 in a potential 3rd wave in a 400 pip range. A couple of different scenarios: 1: Bullish: a move to the range top@ 114.40 area and a 4^th Wave there to bounce to 115.78 2: Bearish: A break down at the range top to start a bearish move down in the range. The average daily true range (ATR) for the pair currently is 69 pips.

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$GBPUSD

What ProAct Forex Target Traders See: We are currently sitting @ 1.3397 in a range. We have convergence in the pair, so we are looking for an initial move down to the 0.618 Fibo @ 1.3234 and then the continuation to the range bottom @ 1.3045. The average daily true range (ATR) for the pair currently is 105 pips.

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

What ProAct Forex Target Traders See: We are currently sitting @ 0.7505 completing 5 waves down. We are also in a rare expanding wedge so are looking for an initial move down to the 1.270 Fibo @ 0.7431 and then the continuation to the day bottom @ 0.7310. The average daily true range (ATR) for the pair currently is 46 pips.