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$EURUSD -

$EURUSD -

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$AUDUSD -

We have seen several attempts to break .9900 and failed. This close to historic highs near 1.0 will look for the next leg to test that price level.
Currently approaching the critical area for the retracement.  A bounce up is possible all the way down to the trendline and that will keep the up trend intact and we will look for an initital move to the 0.9994 and the R4 @ 1.0007 with a further target @ 1.0033.  The downside risk is @ .9832 where the R1 is.

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AUDUSD PArity??

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$EURUSD break south -

FOMC caused a spike up yesterday but we have topped out with a lower high indicating the downward move is still intact.  Currently approaching the critical area.  A break of the trendline to the south keeps the downtrend intact and we will look for an initital move to the S3 @ 1.3870 with a further target @ 1.3781.  Upside risk is a move to the top again.

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$GBPUSD break south -


Cable has broken out of the trendline to the downside  - Should hit the .382 fib soon. The .500 fib retracement is the target after that with the S5 in confluence.

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What ProAct Traders sees in the Forex starting the week of Oct 10th, 2010 –

$EURUSD

WHAT ProAct Traders SEE:  A couple of totally different scenarios- so wait and see which develops:

1)      A potential head and shoulder is forming.  Watch for the break of the neckline to confirm. Targets at 1.3637

2)      Cross is working inside a channel that is bullish.  Key support  areas are 1.3796 Target at 1.4254

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$AUDUSD break north -

$AUDUSD break north -

Ausssie broke out of the pullback trendline  - Should do a double top at the R5(0.9917) with a nice 4.236 fib extension target at 0.9963.  Close to parity!

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