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What ProAct Traders sees in the Forex starting the week of April 10th,2011 –

 

$EURUSD

WHAT ProAct Traders SEE:  The market moved past the resistance @1.4286  and the upward thrust has continued towards the next resistance   @ 1.4482.  There is continued pressure to move to the upper trend wall and the R6 @ 1.4626.  Should see sellers there for a run at the top again.  A break of the 1.4500 targets the top.  Look to buy on dips.

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$USDCHF- Breakdown

The cross has broken through the trend line to the downside and taken out our first target (S4 @ 0.9108) after the breakdown.  Currently @ 0.9139.  Should go to the 0.9091 support as the next target.  The overall target is the 0.8917 double bottom.  Look for a stall there.

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$AUDUSD- still room

The cross has continued to take out our upper targets and now very close to the predictive top.  Currently @ 1.0498.  Should go to the 1.0519 target.  This is where we have the confluence of the R4 and the 2.618 fib extension.  Look for a stall there.

 

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$GBPUSD- correcting

The cross has taken out our upper targets and now correcting.  Currently breaking the support @ 1.6202.  Should go to the 1.6250 support.  Perhaps a stall there before resumption to the .3821 Fibo @ 1.6200 and the square up.  Should see the bounce back into the uptrend there.

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$USDJPY- continuation

The cross has built a ascending wedge which is bullish for the cross.  Currently testing the R5 @ 84.57. A break to the upside targets the 85.00 area where we have confluence of two fibs .  A break here targets the 1.270 Fib extension @ 86.13.

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$EURUSD-Continuation

The cross has bounced on the channel bottom and has now tested the top @ 1.4250. Currently sitting on the 1.270 Fibo extension @ 1.4220.  Targets are the R6 @ 1.4370 (previous big move) R5 @ 1.4399 (most recent move) and the 2.618 Fib extension which is strong resistance.

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What ProAct Traders sees in the Forex starting the week of April 3rd, 2011 –

 

$EURUSD

WHAT ProAct Traders SEE:  The market has broken to the upside and looking for a continuation to the top @ 1.4291 ( also the 1.618 fibo extension).  We should see some consolidation here before the run to the R6 @ 1.4363.  this is a good place for a reversal should they want to do that.   A move down to the R5 (1.4130) first is not out of the question.  Breaking that look for a move to the .500 fibo @ 1.4000.  Looking for an overall target of the 1.4553 ( 2.618 target).

 

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USDCAD

USDCAD

NFP could finally drive this to target.  Currently we are at the 1.270 Fib extension @ .9640.  The S5 target sites just below @ .9611.  Look for buyers to enter there.  We are selling on rallies to the target.

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$USDCHF- channel break

The cross has touched the .786 Fibo yesterday and then retreated and has now broken out of the channel to the downside. Currently sitting on the .500 Fibo @ 0.9150.  Targets are the S3 @ 0.9131 and the 0.9091 which is strong support (0.382 and Support).   It is NFP this week so that may be all that it can do.

 

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