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$EURUSD- will it breakdown?

The cross has continued downwards and is testing the lower trend line @ 1.4030.  There is strong support just below it @ 1.3990 so be cautious of a false breakout to that line and then a bounce.   A break of this support targets the bottom @ 1.3861. A bounce here @ 1.4031 takes us to the R5 @ 1.4140 area.

 

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What ProAct Traders sees in the Forex starting the week of March 27th,2011

 

$EURUSD

WHAT ProAct Traders SEE:  The market moved close to the top and the resistance @1.4278 .  The pullback has come down to the .500 Fibo @ 1.4058.. There is continued pressure to move to the lower trend wall and .618 Fibo @ 1.4013.  Should see buyers there for a run at the top again.  A break of the trend wall targets the 1.3861.

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$NZDUSD – caution

The cross has continued upwards nicely and is testing the .786 Fibo @ 0.7538.  There is strong resistance just above it so expect that a retracement back to 0.7485 first is in order to gain strength to get through.  A break of this resistance targets the top @ 0.7660. A break there takes us to the R6 @ 0.7718 area.

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$GBPUSD- more to go

The cross has come down nicely and is testing the S4 support @ the 1.6182.  A break of this support targets the 4.236 Fibo @ 1.6143. A break there takes us to the bottom of the trend line around 1.6085 area. We should see buyers back in there. A break below that target the S5 @ 1.6025.

 

 

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XAG close to target

Time to move stop on XAG

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$EURUSD- Head and Shoulders

The cross built a right shoulder of a head and shoulders during the London session and is testing the support @ the 1.4144.  The neckline has been broken and a break of the support targets the S3 @ 1.4104. A break there takes us to the bottom of the trend line around 1.4050 area. We should see buyers back in there. A move to the upside instead of the support break favors a move to the 1.4289.

 

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$GBPUSD- continuation

We currently @ the 1.618 Fib extension after taking at our targets. Expect a stall here and then continuation to the 1.6459 Resistance. Cross is in a nice well built up trend on the daily.   If we do see a strong pullback look for the 0.382 Fib Retracement  @ 1.6271. – should see buyers back in here. A move to the upside here favors a move to the 1.6493.

 

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$USDJPY- critical approach?

We currently approaching the trend wall on the cross.  Cross is being squeezed in a wedge.   Currently at 81.00 and a bounce to the north look for initial resistance target @ 81.57 – should see sellers here. A move to the downside here favors a move back to the support @ 80.27.

 

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What ProAct Traders sees in the Forex starting the week of March 22nd ,2011

 

$EURUSD

WHAT ProAct Traders SEE:  The market moved  back through the resistance @1.4048  to the 1.270 fibo @1.4182 and the resistance that is also there.  We hit the top of the channel so will expect a pullback which should be opportunities to buy on dips. There is continued pressure to move to the upper targets. is a top @ 1.4289 and the R6 is @ 1.4362 which is a great target for next week.  

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$GBPUSD- a little more room?

We currently have broken out of the upper trend wall in a downtrend on the cross.  We have tested the 1.6180 resistance three times.  If it breaks to the north look for initial resistance target @ 1.6217 – should see sellers here. A move to the downside here favors a move back to the r2 @ 1.6070 since it is a square up day on Friday.

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