Blog

Silver Collapses 12% After Nearing $50

The flames of volatility turned into a veritable firestorm of price gains and declines on Monday as the new week got underway and Tuesday’s opening action showed no indications that the hectic pace of change was about to abate. Gold and silver continued to cover a large price spectrum as the morning wore on, with the former trying to hang on to the $1,500.00 level while the latter raced across a $2.50+ range that basically extended from $44.60 to $46.30 per ounce.

Image(s): 

$AUDUSD

The cross had a strong breakout of the Bull flag during the London session (currently @ 1.0750) and has tested the top again @ 1.0772. Looking for a breakout and resumption of the move to the 1.0860 (1.270 Fib Extension) and then to the 1.0898 target.

Image(s): 

XAGUSD - New Target

We hit our target during the London session - the new target (AFTER A PULBACK) is 52.15

Image(s): 

What ProAct Traders sees in the Forex starting the week of April 24th, 2011 –

$EURUSD

WHAT ProAct Traders SEE:  The market has continued to the upside and had a small pullback.  There is a possibility of a pullback to the .382 Fibo @ 1.4462 and then  looking for a continuation to the top @ 1.4661.).  Watch the 1.4700 even number which is a psychological number as well.

 

——————————————————————————–

Image(s): 

$AUDUSD

The cross had a strong move during the London session (currently @ 1.0750) has taken out the R7 Target @ 1.0659. Looking for a little more correction in the form of a sideways move or a flag before resumption of the move to the 1.0791 ( 4.236 Fib Extension) and then to the 1.0817 top.

Image(s): 

$EURJPY

The cross (currently @ 118.33) has retraced to the .382 fibo an d we are bearish on the cross. Looking for a little more correction-maybe as high as the 119.23 former support before resumption of the down move.  A breakdown from there targets the 1.270 Fib extension @ 115.13 and then the S7 @ 113.46.

Image(s): 

$EURUSD- Breakdown

The cross (currently @ 1.4287) has broken out of the uptrend which is bearish for the cross. So far it has been unable to break though the .500 fibo @ 1.4270.  A breakdown from here targets the .618 fibo @ 1.4221 with further targets at the S5 1.4144.  If we bounce back to the upside at current price look for the 1.4377 (S3) support.

Image(s): 

What ProAct Traders sees in the Forex starting the week of April 17th,2011

 

$EURUSD

WHAT ProAct Traders SEE:  The upward thrust has continued towards the next resistance   @ 1.4485 and the R8 target.  There is continued pressure to move to the upper trend wall and the 1.270 Fib extension @ 1.4644.  A break of the 1.4644 targets the top of the trend.  Look to buy on dips.

——————————————————————————–

Image(s): 

$GBPUSD- Ascending wedge

The cross (currently @ 1.6349) has built a wedge in the uptrend which is bullish for the cross. So far it has been unable to break though the R3 @ 1.6371.  If we break to the upside look for the 1.6386 Resistance and a move to the top @ 1.6429. A breakdown targets the 1.6293 support.

Image(s): 

Pages