Bullish:  Currently we are at 0.6023 in channel.  We are looking for a move to the ATR target @ 0.6125 and ultimately the R7 target @ 0.6331.  The average daily true range (ATR) for the pair currently is 163 pips.  WATCH THE USDX for more clues.  

Note: USDX: Bearish: Working a nice channel with convergence in play.  Watch for the correction.  Be aware that this could change in a heartbeat and will affect the currencies below. ATR’s are lower than last week except for the GBPUSD. BE SMART - TRADE WITH STOPS!!!!

$EURUSD

What ProAct Traders See:  Bearish: We are currently @ 1.0809 in a range.  We have convergence on the 60/240 min chart. We are looking to continue to the day chart bottom @1.0648 and maybe to the S7 @ 1.0500. Watch the USDX for reversal and direction. The ATR for the pair currently is 186 pips.

Bullish:  Currently we are at 1.1957 in a 3rd wave.  We are looking for a move to the ATR Target @ 1.2205 and then the R7 @ 1.2234.  The average daily true range (ATR) for the pair currently is 273 pips.  WATCH THE USDX for more clues.  

Bearish:  Currently we are at 0.8855 in a 3rd wave.  We are looking for a move to the ATR Target @ 0.8718 and then watch for a 4th wave bounce.  The average daily true range (ATR) for the pair currently is 212 pips.  WATCH THE USDX for more clues.  

Note: USDX: Bearish: Working a nice channel with convergence in play. Watch for the correction. Be aware that this could change in a heartbeat and will affect the currencies below. ATR’s are drastically higher than last week AGAIN. BE SMART - TRADE WITH STOPS!!!!

$EURUSD

What ProAct Traders See: Bullish: We are currently @ 1.1136 just out of a range. We have convergence on the 60 min chart. We are looking to continue for a bit of consolidation before resumption to the top @1.1500. Watch the USDX for reversal and direction. The ATR for the pair currently is 200 pips.