Note: USDX reversed and now has convergence to the upside which affects the major currencies.

$EURUSD

What ProAct Target Traders See:Bearish: We are currently sitting @ 1.2416 in a sideways move after a reversal of the USDX.We are looking for some consolidation before a continuation to the 0.786 Fibo @ 1.2273 and an overall target of 1.2201. The average daily true range (ATR) for the pair currently is 108 pips.

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$USDJPY

What ProAct Target Traders See:Bullish: We are currently @ 106.32 at the end of a trend. We could have one more move to the bottom before a bounce.We are looking for a initial move to the 0.618 Fibo @ 108.56. Overall, if the USDX is moving up we could get to the top @ 111.50. The average daily true range (ATR) for the pair currently is 100 pips.

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$GBPUSD

What ProAct Target Traders See:Bearish: Cable is currently sitting @ 1.4021 in a sideways move.We are looking for a continuation with a target down to the Day chart channel @ 1.3765 (watch for a bounce there) and overall target @ 1.3449. The average daily true range (ATR) for the pair is 156 pips.

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

What ProAct Forex Traders See:Bearish: Aussie is @ 0.7907 in a channel in a range.We expect a continuation to the 0.786 Fibo@ 0.7637 area and then a move to the bottom @ 0.7499.The average daily true range (ATR) for the pair currently is 81 pips.