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EURUSD-AUDUSD Asian

Hello Trader,

 

This is just a “heads up” opinion of what I’m observing since the NY session started today.

 

The EurUsd (EU) topped out @ 1.2730 and then fell to 1.2624. We had a target in the room around 1.2605. If you’re watching during the Asian, and IF the low is in place, then plot fibs from the abovementioned swing hi/lo. IF price re-approaching the 382 of that move, I’ll be looking for a “bounce” lower.

 

$EURUSD

$EURUSD is bouncing in a shallow channel on the support at 1.2690.  We have a bear flag and a wedge both bearsih for the cross.  A break of 1.2674 should produce a run to the 1.2547 with a stall at the even number 1.2600.

Image(s): 

What ProAct Traders sees in the Forex starting the week of August 22, 2010

 

REMEMBER: THIS IS BIG PICTURE ONLY - NOT INTRADAY! Please NOTE!!!! This is an opinion only!  CLICK ON IMAGES TO ENLARGE

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EURUSD

WHAT ProAct Traders SEE:  We may see a pullback to the 1.2742 (former support) and maybe the 1.2780 unsquared area before resumption of the down move.  Targets are  1.2602 and 1.2547 on the downside.

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Image(s): 

$EURUSD bounce?

We have had a hundred pip move during the night and Friday is a squaring day so watch for a bounce at the 1.2674 area (Strong support).  should we break this however next target is the even number at 1.2600 with further targets at the 1.2547 area.

Image(s): 

$EURJPY

The EJ has built a nice wedge which is bearish. It is still trapped inside but a breakout targets the 108.72 and the 108.15 area.  Breaking to the north a target of 110.50 is the risk.

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$AUDUSD breakdown

$AUDUSD hit our target yesterday but failed any further advance.  Top appears to be in place and looking now to break the 0.9003 (S3 and trend line) for a move to the 0.8948 area.

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AUDUSD

Ozzie is trying hard to break the .500 fibo.  If it is able to  looking for the .618 and R4 area around 0.9084  to 0.9100.  Further upside target is the .786 fibo at 0.9146.  Failure to make the break leaves a downside target of 0.8948 (R2).

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EURUSD

EURUSD is in a nice channel and we are looking for follow through to the 1.2723 (S6) area.  A further target is the .382 fib at 1.2691 and the 1.2669 where support can be found.  Upside risk is a break of the channel and then a move to 1.2936.

Image(s): 

What ProAct Traders sees in the Forex starting the week of August 15, 2010 -

REMEMBER: THIS IS BIG PICTURE ONLY - NOT INTRADAY! Please NOTE!!!! This is an opinion only!  CLICK ON IMAGES TO ENLARGE

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EURUSD

WHAT ProAct Traders SEE:  We are approaching the .500 fib and the 6th support.  Might see a little bounce here but targeting the 1.2601 area (.618 fibo from the swing high and low and the 2.618 Fib extensions).  Further targets south are 1.2403 and 1.2347 later this week.

Video here - http://tinyurl.com/26aohbk

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