Note: Currently USDX is bearish

$EURUSD

What ProAct Forex Target Traders See: We are currently sitting @ 1.1405. We are looking to complete a 5^th wave in the 1.1610 area. It might take a while though since the pair’s ATR is so low for its popularity. Target 1 is the R5 @ 1.1488. The average daily true range (ATR) for the pair currently is 63 pips.

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$USDJPY

What ProAct Forex Target Traders See: We are currently sitting @ 113.89 in a range and a rising wedge which is bearish for the pair. We are looking to continue down to the 0.500/equilibrium area @ 111.61-87 area. The average daily true range (ATR) for the pair currently is 71 pips.

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$GBPUSD

What ProAct Forex Target Traders See: Cable is currently @ 1.2749 and in a range. A couple of different scenarios: 1: Bullish: a move to the square up @1.2830 and then bounce creating a channel to the upside to the top @ 1.3046 area and 2: Bearish: A break down to the double bottom support @ 1.2595. The average daily true range (ATR) for the pair currently is 76 pips.

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

What ProAct Forex Target Traders See: We are currently sitting @ 0.7601 and in position to do 5 waves down. But with USDX currently bearish AUDUSD has nowhere to go. Will most likely see a sideways move until the USDX is resolved. Target down is 0.7503 at the square up. The average daily true range (ATR) for the pair currently is 46 pips.