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ProAct TradersTeam

What ProAct Traders sees in the Forex starting the week of Oct 3rd, 2010 –

U.S. Non-Farm Payrolls and Employment Situation report this week!

$EURUSD

WHAT ProAct Traders SEE:  We have come up to the .270 fib extension which could be a key reversal area for the cross.  Still considerable risk that the .618 will get hit since it is within striking distance.  Key support  areas are 1.3575 and 1.3459.  Further targets at 1.3158 ( 0.382 fibo).

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$GBPUSD short on rally -

Cable retraced to the .786 fibo and had a strong reaction there.  Looking for continuation of that move to the 1.5775 area (trend line).   Further targets down are the 1.5728 and the 1.5693.

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$AUDUSD -

Ozzie still shows some downward pressure on the cross.  Look for a bponce at the 0.9657 (trend line) and a continuation to the R7 at 0.9761.  A break of the trend line targets the 0.618 fib (previous resistance) at 0.9565.

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Swissie at extreme- shows little sign up stopping

Technicals still show downward pressure on the cross.  Look for a break to the 0.9704 and maybe to the 0.9573 (s6).

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$EURUSD -

Currently the cross is at resistance @ 1.3467.  It appears to have topped out and looking for it to go to the bottom trendline around 1.3430.  This is a critical area - if it breaks look for the move down to the 1.3160.  If it cannot look for a double top at or near the 1.3511.

 

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What I see

 

What ProAct Traders sees in the Forex starting the week of September 26, 2010 - 

 

Pictures - go to :  http://wp.me/piiLm-JJ

$EURUSD

WHAT ProAct Traders SEE:  We have come up almost to the .500 fibo which could be a key reversal area for the cross.  Immediately after that if it continues north  there are lots of barriers in the form of key resistance areas so will look for some consolidation there.  Upper target is the .618 at 1.3917.  Downside targets are 1.3253 and 1.3198.

$EURUSD -

Currently the cross is at resistance @ 1.3450.  Looking for it to go through and tag the  1.3500 (even number) and possibly the 1.3541 resistance.  Next target is 1.3574 (R7). Downside risk is to the 1.3253.

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$EURJPY -

EurJPY took a while to break from our post yeseterday.  Two possible scenarios today.  1) break to the south to the trendline and then the 111.21. 2) Build the right shoulder of a head and shoulders pattern before breaking to the same targets.  Upside risk to 113.54.

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