Target Trading In Forex This Week
Scott Barkley | Nov 16, 2014 02:26PM ET
EUR/USD
What ProAct Forex Target Traders See: We are currently sitting @ 1.2577 in a 5th wave. We are looking to finish this wave @ 1.2236-58 (1.270 Fibo and S6 of this wave). Watch for the turn here. The average daily true range (ATR) for the pair currently is 107 pips.
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USD/JPY
What ProAct Forex Target Traders See: We are currently @ 116.28. We are looking to see if the R8/1.270 fibo is the top @ 117.28. Look for a correction of we do not break this. The average daily true range (ATR) for the pair currently is 128 pips.
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GBP/USD
What ProAct Forex Target Traders See: Cable is currently sitting @ 1.5672. We said last week to look for the bottom @ 1.5602. We could go sideways and range or get a shallow pullback to the next target at the S7 @ 1.5430. The average daily true range (ATR) for the pair is 110 pips.
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AUD/USD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: Aussie is @ 0.8760 in a bear flag which is bearish. We expect a move to the S7 @ 0.8517 and then a continuation to the 4.236 Fibo @ 0.8302 but watch the heart line area @ 0.8350-0.8400. The average daily true range (ATR) for the pair currently is 107 pips.
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