Note: ProAct is closed for the USA holiday on Monday!!
USDX: Bullish to Bearish: We are in an uptrend but close to the range top. We still have convergence in play so maybe one more run at a new top. 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 about the same as last week.

BE SMART - TRADE WITH STOPS!!!!

EURUSD

What ProAct Traders See: Bearish: We are currently @ 1.0775 in a 5th wave. If we can break support, we are looking for resumption of the 5th wave to the S5/1.270 Fibo @ 1.0552. Watch for the reaction there. Watch the USDX for reversal and direction. The ATR for the pair currently is 72 pips.

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USDJPY

What ProAct Traders See: Bullish: We are currently @ 146.75 in a 5th wave up at the range top. We are looking for a run at the top at either the R5/.1.270 Fibo @ 147.66 or the R6 @ 150.55. Once a top is in place look for a move DOWN. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is a BIG 104 pips.

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GBPUSD

What ProAct Traders See: Bearish: We are currently @ 1.2587 in a 5th wave. A break of the support here, targets the 1.618 Fibo @ 1.2338. Watch for the reaction there. Watch the USDX for direction. The average daily true range (ATR) for the pair is 93 pips.

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AUDUSD

What ProAct Traders See: Bearish to Bullish: We are currently @ 0.6403 in an ABC corrective pattern with nowhere to go. We are looking for one more move down to the S6/1.000 Fibo @ 0.6270 and then a hard bounce. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 61 pips.

CAUTION IS URGED - TRADE WITH STOPS!!!!!