USDX: Bearish: We completed a 5 wave structure up and put in a top. W are looking for an A-B-C pattern next down. We are looking for a continuation of the C wave to at least the 0.500 Fibo @ 101.796 and then we will see??? The pairs should prove it out when the market opens. All of this could change in a heartbeat and will affect the currencies below. ATR’s are higher than last week except USDJPY which is significantly higher than last week. BE SMART - TRADE WITH STOPS!!!!

EURUSD

What ProAct Traders See: Bullish: We are currently @ 1.1010 after making the turn to the upside. We are looking for a breakout and then resumption to the day chart top @ 1.1247. Watch for the reaction there. Watch the USDX for reversal and direction. The ATR for the pair currently is 78 pips.

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USDJPY

What ProAct Traders See: Bearish : We are currently @ 141.76 in possible 3rd wave down. We are looking for a continuation to the S5 @ 140.13. Watch for a 4th wave there. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is a BIG 169 pips.

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GBPUSD

What ProAct Traders See: Waiting: We are currently @ 1.2749 in a possible 3rd wave in a channel . A couple of different scenarios: 1: Bullish: a breakout here up look for a move back to the range top @ 1.2141. 2: Bearish: A continuation here would most likely take out the 1.618 Fibo @ 1.2465 and then a 4th wave.
Watch the USDX for direction. The average daily true range (ATR) for the pair is 109 pips.

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AUDUSD

What ProAct Traders See: Bullish: We are currently @ 0.6569 in a range and after the breakout up of the falling wedge. We are looking to continue to the resistance @ 0.6726 and then a 4th wave to set up a 5th wave. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 78 pips.
CAUTION IS URGED - TRADE WITH STOPS!!!!!