Currently the cross is @ 1.3466.  We have broken out of the downtrend in pretty dramatic fashion and are sitting just on the .382 Fibo support @ 1.3447.   Expect a slight pullback and then a move to the R5 target @ 1.3591. A breakdown would a move to the R3 @  1.3358.…

Currently the cross is @ 0.9990.  We are sitting just under support @ 0.9965 after taking out our target (R5) from yesterday.  A break of the support would indicate a move to the R4 @  0.9906. If the support  holds look to go back to the R5 @ 1.0050 and then resistance @ 1.0100/1.0113.…

Currently the cross is @ 1.3373.  We are sitting just under resistance @ 1.3401 also at the trendline.  A break of the Trendline north   would indicate a move to the .500 Fibo @ 1.3510. If the trendline holds look to go back to the 1.3262 and fill the gap.…

$EURUSD

WHAT Forex Target Traders SEE:  We are currently sitting @ 1.3233.  We have divergence on the cross so looking for the bounce at the S6 @ 1.3202.  The day chart bottom is a little ower @ 1.3202 so may reach out to there.  The bounce should go to the S5 @ 1.3435.  The average daily trading range for the cross currently is 135 pips.…

Currently the cross is @ 1.3191.  We are sitting on support @ 1.3382.  A break of the support  would indicate a move to the -0.270 Fib extension @ 1.3318.  It should it bounce here look to go up to the 1.3450 area.…

Currently the cross is @ 0.7472 .  We are sitting on support BUT…have built a bear flag which is bearish.  A break of the 0.7400 would indicate a move to the -0.270 Fib extension @ 0.7345.  Should it bounce here look to go up to the 0.7528.…

Currently the cross is @ 0.9881 .  We are sitting on support which could cause a bounce.  We would then look for a wedge to be built.  A break down here would indicate more bearish character and look for a move to the S7 @ 0.9765.  Should it bounce here look to go up to the 0.9963 and then resume the downtrend.…

Those in the live NY session training room got this trade  today  + 40pips

Currently the cross is @ 1.3574 .  We have broken out of the Downtrend but as shown it has done that before and come right back into it. It is square up day as well as options expiration day so we want to be sure on direction before taking any action.  A bounce on the 1.3550 support line would indicate bullish character and look for a move to the 1.3724 (interim target is 1.3656)Should it break the 1. 3550 support look for one more push to the downside and a double bottom @ 1.3422.…

Currently the cross is @ 1.0055 .  We are building a descending wedge pattern which is bearish for the cross.  We  expect a continued move of the 5th wave  through to the S5 @ 0.9974. We should bounce there back to the 1.0118  area.   Should it not break the 1.0055 support look for one more push to the upside and 1.0102.  …

Currently the cross is @0.9172 .  We are building a head and shoulders reversal pattern  now expect a continued move through to the .500 fibo @ 0.9088. We should bounce there to build the right shoulder so looking for a bounce back to the 0.9150 area.   Should it not break the 0.9152 support look for one more push to the upside and 0.9224.…

Currently the cross is @1.0140 .  We have a little bounce on  the .786 Fibo and  now expect a continued move through the S4 /.786 fibo down to  the double bottom  @ 1.0052. We are in a wave 5 to the downside so a break of the bottom  targets the S5 support @ 0.9974 area.   A hard bounce at current price would target a move back to the S3 @ 1.0207.  We are bearish.…

Currently the cross is @1.0172 .  We pulled back to the .500 Fibo and bounces and now headed up to  the R5 resistance @ 1.0267. We are in a big area of consolidation so a break of the R5 targets the 0.270 Fib extension @ 1.0365 and the upper target is the 0.618 Fibo Extension and the R6 @ 1.0495.  A failure top break the R5 signals a return to the 0.382 Fibo @ 1.0123.…

$EURUSD

WHAT ProAct Traders SEE:  We are currently sitting @ 1.3754.  After a major correction we are continuing to build a move northward and are threatening to break out of the established downtrend.  We do only have 4 waves built and the logical conclusion sill be that we will do that 5^th wave to the downside.  IF that scenario happens look for  a move back to the 1.3492 double bottom.    If we breakout look to continue to the upside for  the .0.618 Fibo @ 1.4004.  There…

Currently the cross is @0.9060 .  Veterans day in the USA so volume should be very light.   IF we get any movement at all we are Looking for a continued retracement down to 0.9019 ( 0.618 Fibo and support) before another  move  to the upside.  Those  targets are the 0.9077 and then  0.9149 double top.…

$AUDUSD – Trade Recap

Those in the live NY session training room got this trade  today  + 40pips

Currently the cross is @1.3616 after bouncing on the 1.3500 psychological number.  Looking for a continued retracement up to 1.3712 ( 0.618 Fibo and support and trend line) before another  move  to the downside.  Those  targets are the 1.3484 double bottom and then the -0.270 Fib Extension @1.3383. …

$NZDUSD – Trade Recap

Those in the live NY session training room got this trade  yesterday to today  + 99 pips

Currently the cross is @0.7858 after breaking out of the Bear Flag in the London session.  A break of the S3 (current spot) and the sideways move  to the downside  targets the 0.7800 double bottom and then the S4 support @0.7763.  A bounce  north  today we would look for a move to the .500 Fibo  @ 1.7902. …

Currently the cross is @1.0136 .  A break of the S2 (current spot) and the Triangle to the downside targets the 1.0081 S3 Support.  A break north today we would look for a double top @ 1.0229. …