International Trading


U.S. Non-Farm Payrolls and Employment Situation report this week!

$EURUSD
WHAT ProAct Traders SEE: We have come up to the .270 fib extension which could be a key reversal area for the cross. Still considerable risk that the .618 will get hit since it is within striking distance. Key support areas are 1.3575 and 1.3459. Further targets at 1.3158 ( 0.382 fibo).

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$USDJPY
WHAT ProAct Traders SEE: I wrote last week: “The BOJ intervention seems to not be holding. Next target down is the S4 at 83.52 area”. It did that. We are currently where we were before the BOJ action. This is close to a double bottom. Upside target is 86.02 then 86.74 area. Downside risk to 82.00

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$EURJPY 
WHAT ProAct Traders SEE: Testing the top of a strong resistance at 114.80. Looking to break and finish the up move to the 115.76-94 area with multiple reasons for the this the top (4.236 fibo extension, R7 strong resistance from the day chart). Downside target then to the 112.47 area.

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$AUDUSD – A great smooth currency for Newbie’s!
WHAT ProAct Traders SEE: looking for continuation of the uptrend. In a nice channel with Targets at 0.9768 (R3) , 0.9840 (R5) and 0.9947 (Strong resistance 240 chart).

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

IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by ProAct Traders, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors. We monitor multiple indicators as well as established chart analysis.
There is No “Holy Grail” in trading systems. Do not use our research or any other trading system without proper research on the asset.
This is an opinion ONLY - and not a trade call, but a study that may lead you to a trade. I do not know whether this will transpire or not so use your own judgment.