Forex Target Trading: Week Of July 26th, 2015
Scott Barkley | Jul 25, 2015 12:35PM ET
EUR/USD
What ProAct Forex Target Traders See: We are currently sitting at 1.0978 and waiting for the finish of a 4th wave. Look to the strong support at 1.0683 as an interim target en route to 1.0448. The average daily true range (ATR) for the pair currently is 119 pips.
————————————————————————--
USD/JPY
What ProAct Forex Target Traders See: We are currently at 123.80 and still ranging. If we turn to the downside, we are looking back to the 122.00. IF we break 124.50, look for an upside target of the 1.618 Fib Extension at 125.87. The average daily true range (ATR) for the pair currently is 86 pips.
——————————————————————————–
GBP/USD
What ProAct Forex Target Traders See: We are currently sitting at 1.5510 out of a sideways move to continue a third wave. We are looking to break to the downside target the Double bottom at 1.5341 and then 1.5107. The average daily true range (ATR) for the pair currently is 120 pips.
——————————————————————————–
AUD/USD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: Aussie is at 0.7287 in a channel, which is bearish. We expect this to be a 5th wave to the S6 at 0.7128. The average daily true range (ATR) for the pair currently is 89 pips.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.