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$GBPUSD Critical area -

CAble sitting at a critical level.  A bounce here targets the double top at 1.5730 then the 1.5867 area.  A breech targets the trendline area around 1.5500.

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What ProAct Traders sees in the Forex starting the week of September 19, 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 have come up almost to the .786 fibo (still a chance to take it officially out).  We are at the top of the channel so looking for the week to start in a bear move down.  Upside risk is 1.3200.  Downside targets are 1.2874 -1.2800 and 1.2600.

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Biggest Ever Yen Intervention

Great article Biggest Ever Yen Intervention — http://tinyurl.com/365kcgw

$EURUSD Critical area -

Markets are waiting on Prelim/Consumer sentiment.  Technicals prior to that  indicate: We have reached the top of the channel and have a pullback.  A  bounce on the channel line targets the double top @ 1.3161. Break of that channel targets the .382 at 1.2932.

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$EURUSD -

We have reached the top of the channel so will expect a pullback here to the .382 and then a go at the Upper target at 1.3204-36.

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$AUDUSD Fib Target-

As long as the cross stays above 0.9342 the (4.236) Fib extension is a viable target at 0.9470. Upper target at 0.9500.  A breach of the 0.9342 targets the .500 fibo at 0.9278

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$EURUSD Short

EURUSD is sitting near the top of the last swing high ia a large bear flag.  Both are bearish for the cross.

Immediate target is 1.2724 to the downside with a further target at 1.2603.  Upper target at 1.2957.

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$GBPUSD Short -

Cable is sitting inside a wedge with support @ 1.5349. We have a nice target at 1.5303 and further target at the
S5 @1.5159.

 

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What ProAct Traders sees in the Forex starting the week of September 12, 2010 -

What ProAct Traders sees in the Forex starting the week of September 12, 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 have broken the bear flag on the cross which continues to be bearish.  Currently sitting on support at 1.2686.  Further targets are at 1.2603, 1,2500 and 1.2462.  The upside risk is to the 1.3024 area.

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$GBPUSD Short

CAble is sitting on support ( S3) @ 1.5394. We have a nice target at 1.5302 and further target at the S5 @1.5158.  Friday is a squaring day so doubt it will make much more than the first target.

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