Forex Target Trading: Week Of April 19, 2015
Scott Barkley | Apr 17, 2015 05:36PM ET
EUR/USD
What ProAct Forex Target Traders See: We are currently sitting @ 1.0817 anticipating that this will be a real break out to the upside. We are looking for the upside target initially at the R5 @ 1.0907 and a continuation to the 2.618 Fibo @ 1.0164. The average daily true range (ATR) for the pair currently is 137 pips.
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USD/JPY
What ProAct Forex Target Traders See: We are currently @ 118.82 in a big downtrend but still ranging. Looking now for a move up to support @ 117.94. If we get that, look to the S5 area @ 117.06. The average daily true range (ATR) for the pair currently is 84 pips
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GBP/USD
What ProAct Forex Target Traders See: Cable is currently sitting @ 1.4646 and we are still in the range. A couple of different scenarios: 1: Bullish: a move to the R6 @ 1.5178 with a higher target @ 1.5346 area) and 2: Bearish: A break down to the 0.500 Fibo and then a move to the upside. The average daily true range (ATR) for the pair currently is 141 pips.
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AUD/USD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: Aussie is @ 0.7781 at a trend top. We are waiting to see if this trend will hold for a move down. A couple of different scenarios: 1: Bullish: a move to the R5 @ 0.7930 area) and 2: Bearish: A break down to the square up @ 0.7610 which would mean it is still in a range. The average daily true range (ATR) for the pair currently is 101 pips.
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