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.

Currently we are @ 87.77 and out of the symmetrical wedge. We are looking to complete a move to the range support @ 86.77. The average daily true range (ATR) for the pair currently is 72 pips.

This month's ProAct Traders “Real estate of the month” (formerly the pay your mortgage trade) idea is found in the EURAUD pair.

12/05/17 1.5596 start

We see that we are finishing a head and shoulders reversal pattern after a strong ...

Currently we are @ 0.7504 in a 4^th wave correction. We are looking to complete a move to the square up @ 0.7582. From there we are looking for a 5^th wave to start down to the 0.7400 ...

Currently we are @ 1.7191 in a channel and about to break the flag pattern. We are looking to complete a move to the triple bottom @ 1.7100. From there we are looking for a bounce. The average daily true ...

Currently we are @ 77.53 in a channel. We are looking to complete a move to the 0.382 @ 78.15. From there we are looking for a pullback. The average daily true range (ATR) for the pair currently is 60 ...

Note: Tough one to dissect this week - USDX is weak now, but the passing of the largest tax reduction in USA history Friday night after hours, might make the dollar strengthen. This might affect the dollar currency pairs – ...

Currently we are @ 85.03 in a 4^th wave. We are looking to complete a move to the Square up @ 85.51. From there we are looking for a 5^th wave down to 83.72. The average daily true ...

Currently we are @ 0.8833 in a range. We are looking to complete a move to the day chart support @ 0.8749. The average daily true range (ATR) for the pair currently is 64 pips.

Currently we are @ 1.1045 in a range and breaking out of a symmetrical triangle. This pair has a tendency to explode out of patterns. We are looking to complete a move to the 1.270 Fibo support @ 1.0950. The ...

Note: USDX is weak at the moment- affects the movement below. Most ATR’s are dropping leading to more ranging.

$EURUSD

What ProAct Forex Target Traders See: We are currently sitting @ 1.1927 inside a channel in a range. We ...

Currently we are @ 1.7183 in a range. We are looking to complete a reversal and continue to the 0.382 Fibo support @ 1.7112. The overall target is 1.7020 area. The average daily true range (ATR) for the pair currently ...