Forex Target Trading For Upcoming Week Of August 25, 2013
Scott Barkley | Aug 24, 2013 11:01AM ET
EUR/USD
What Forex Target Traders See
: We are currently sitting at 1.3386. The trend is your friend till it bends, and we are bending with a head and shoulders possibly already in place. We are waiting to see if we get a turn down since the structure says we should short to the S4 at 1.3226. The average (14 day) daily true range (ATR) for the pair currently is 81 pips.
USD/JPY
What Forex Target Traders See: We are currently at 98.67 with a bull break of the wedge. It could still be a false breakout and if so look to the 97.06 support. Looking for a move up to the 1.270 Fibonacci at 100.00. The average (14 day) daily true range (ATR) for the pair currently is 103 pips.
GBP/USD
What Forex Target Traders See: The Cable is currently at 1.5582 . We are looking to short to the S4 at 1.5486 and the bottom at 1.5414. The average (14 day) daily true range (ATR) for the pair currently is 101 pips.
AUD/USD (A great smooth currency for Newbie’s!)
What Forex Target Traders See: The Aussie is currently at 0.9034. We would expect a move to the bottom at 0.8848, then 0.8778 to the downside. The average daily true range (ATR) for the pair is currently 107 pips.
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