Note: USDX is bullish (for now).Be aware that that could change in a heartbeat and will affect the currencies below. We are going with Dollar strength for now. ATR’s have increased slightly.

$EURUSD

What ProAct Traders See:Bearish: We are currently sitting @ 1.2131 in a range and at a significant bounce point to start a channel inside the channel. We are looking for a continuation to equilibrium for the 1.618 Fibo @ 1.1978 and then to the psychological number @ 1.1900. The average daily true range (ATR) for the pair currently is 72 pips.

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$USDJPY

What ProAct Traders See: Bullish: We are currently @ 109.06 trying to make the turn and do a 4^th wave to the downside. We are looking to bounce on the 0.214 Fibo @ 108.45 and then a continuation to 1.270 Fibo @ 110.80.The average daily true range (ATR) for the pair currently is 62 pips.

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$GBPUSD

What ProAct Traders See:Bearish: Cable is currently sitting @ 1.3782 in a large range. We said last week “A break down below 1.3960 would set up move to the day chart bottom @ 1.3765”. It did that.Now looking to retrace and then continue to the 1.618 Fibo @ 1.3632 and then a continuation to 2.270 Fibo @ 1.3511.The average daily true range (ATR) for the pair is 100 pips.

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

What ProAct Traders See:Bearish: We are currently sitting @ 0.7581 in a range and a channel. We are looking to bounce on the 0.214 Fibo @ 0.7631 and then a continuation to 1.618 Fibo @ 0.7437 and then to 0.7300.The average daily true range (ATR) for the pair currently is 55 pips.