Target Trading For The Week Of October 27, 2013
Scott Barkley | Oct 26, 2013 11:40AM ET
EUR/USD
What Forex Target Traders See: We are currently sitting at 1.3808. In a nice wave that still has room to the top. Looking for the following T1=1.3853 – looking for the 1.4000 area overall. The average ATR ( average True Range) for the currency daily is 77 pips.
USD/JPY
WHAT Forex Target Traders SEE: We are currently at 97.38 and stuck in a huge pennant. We are looking to see if we get further proof to the downside and looking for the 618 fibo at 95.86. The average ATR (average True Range) for the currency daily is 72 pips.
GBP/USD
WHAT Forex Target Traders SEE: Cable is currently at 1.6180. Cable is in a rectangle which is bullish and we are looking for a move to the R7 around 1.6416. The average ATR (average True Range) for the currency daily is 113 pips.
AUD/USD – A great smooth currency for Newbie’s!
WHAT Forex Target Traders SEE: We are currently at 0.9586. Looking for a continuation of an ABC correction and then a bounce back to the top . Overall target is the R6 at 0.9891. The average ATR ( average True Range) for the currency daily is 77 pips.
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