Blog

$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): 

$GBPUSD- Breakout Possibilities

The cross (currently @ 1.6318) has respected the uptrend but was unable to break though the channel top during the London session.  It is now flirting with the bottom of the trend line.  A breakdown targets the 1.6250 support and then the S4 target @ 1.6194. If we break to the upside look for the 1.6386 Resistance and a move to the top @ 1.6427.

Image(s): 

Pages