Note: USDX is sideways and has divergence for a possible upside move which affects the major currencies.

$EURUSD

What ProAct Traders See:Bearish: We are currently sitting @ 1.2296 in a triangle pattern.We are looking for a continuation to the range bottom @ 1.2201 and then decision time.A bounce back to the 0.500 Fibo @ 1.2364 or down to the 1.270 Fibo @ 1.2119. The average daily true range (ATR) for the pair currently is 104 pips.

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$USDJPY

What ProAct Traders See:Bullish: We are currently @ 106.74 in a channel and showing divergence for an upside move. We are looking for a bounce to the 0.500 Fibo @ 108.02. Overall, if the USDX is moving up we could get to the top @ 110.00. The average daily true range (ATR) for the pair currently is 100 pips.

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$GBPUSD

What ProAct Traders See:Bearish: Cable is currently sitting @ 1.3970 in a large triangle.We are looking for a continuation with a target down to the Day chart channel @ 1.3798 (watch for a bounce there).A bounce keeps it in the triangle which will make it hard to trade but a breakout look to the overall target @ 1.3480. The average daily true range (ATR) for the pair is 145 pips.

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$AUDUSD – A great smooth currency for Newbie’s!

What ProAct Traders See:Bearish: Aussie is @ 0.7820 in a channel in a range.We expect a continuation to the 0.786 Fibo@ 0.7637 area and then a move to the bottom @ 0.7495.The average daily true range (ATR) for the pair currently is 78 pips.