Note: USDX: Bearish–We have convergence in play on MACD on the 4 hour and convergence on the hourly. We finished a 5th wave Up and now reversing! We are in the start of a trend to the downside and anticipate the continuation to the 0.500 Fibo @ 93.772. The USD 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. BE SMART - TRADE WITH STOPS!!!!$EURUSDWhat ProAct Traders See: Bullish: We are currently @ 1.1594 in the start of a channel to the upside (still early!) and at the bottom of a range. We did finish 5 waves down so we are looking for the continuation up to the 0.500 Fibo @ 1.1736. We have convergence on the 60 min MACD ( see inset) but it is still looking puny so might have one more push down. Watch the USDX for reversal and direction. The ATR for the pair currently is EXTREMELY LOW at 53 pips.¬¬¬…………………………………………………$USDJPY What ProAct Traders See: Bearish: We are currently @ 111.07 in a range after making the turn. We show start of convergence on the 240/360 min chart. We still need to have a pullback to establish the channel down. The down target is the S4/0.786 Fibo @109.77 and if we get the continuation there, look to the range bottom @ 109.00. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 63 pips. ………………………………………………..$GBPUSDWhat ProAct Traders See: Bullish: We are currently @ 1.3544 in a channel up after hitting our target to the pip, and in a range (near the bottom). We need a pullback to establish the 2nd wave and then a continuation to the R5/0.214 Fibo @ 1.3785. We have convergence on the MACD for the continuation of a 5th wave up on the 1 our (see inset). Watch the USDX for direction. The average daily true range (ATR) for the pair is 98 pips.…………………………………………………$AUDUSD What ProAct Traders See: Bullish: We are currently sitting @ 0.7263 in the start of a channel in a range. We finished 5 waves down so looking now for the continuation to the R4/0.214 Fibo @ 0.7412 area. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 67 pips. Chart Graphics - click to open hit ESC to come back