Note: USDX is in a range.We are waiting. We have divergence for the reversal and at a significant top. Watch the reaction @ the 98.28 area for either a continuance or reversal.Be aware that this could change in a heartbeat and will affect the currencies below. ATR’s are roughly the same as last week with the exception of the GBPUSD which is up 16 more pips.

$EURUSD

What ProAct Traders See: Waiting: We are currently @ 1.1218 near a bottom. We are looking for possibly one more move to the range bottom @ 1.1177 and then a bounce. Watch the USDX for direction. The ATR for the the pair currently is 60 pips.

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$USDJPY

What ProAct Traders See: We are currently @ 110.87. Bearish:We have a rising wedge reversal pattern in play near the top of this tight range.We are looking for an initial move after the Rising Wedge break down to the 0.500 Fibo @ 110.33 and then a continuation to the range bottom @ 109.70 area.Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 62pips.

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$GBPUSD

What ProAct Traders See:We are currently @ 1.3035.Bullish: We are looking for possibly one more move to the range bottom and then a move to the 0.500 fibo @ 1.3171 and then the range top @ 1.3302 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 156 pips.

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

What ProAct Traders See:We are currently sitting @ 0.70097 in a tight range. Bullish to Bearish:we are looking for an initial move to the range top @ 0.7167 area then down to the 0.7000. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 51 pips.