Forex Target Trading: Week Of July 5th, 2015
Scott Barkley | Jul 04, 2015 10:43AM ET
EUR/USD
What ProAct Forex Target Traders See: We are currently sitting @ 1.1107 and waiting for direction in a sideways move. The triangle suggests a downside move to the 0.786 Fibo @ 1.0951 with a continuation there to 1.0800. A break up and look to the 0.214 Fibo @ 1.1302. The average daily true range (ATR) for the pair currently is 125 pips.
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USD/JPY
What ProAct Forex Target Traders See: We are currently @ 122.74 and still ranging. Looking now to 121.95 area. The average daily true range (ATR) for the pair currently is 86 pips.
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GBP/USD
What ProAct Forex Target Traders See: We are currently sitting @ 1.5586 with a breakout of the old uptrend. We expect to go to the 0.618 Fibo @ 1.5472 with a possibility of a move to the 1.5349. The average daily true range (ATR) for the pair currently is 110 pips.
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AUD/USD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: Aussie is @ 0.7528. We said last week “We are looking to the day chart bottom @ 0.7532”. Watch for a bounce and then continue to the 0.7382. The average daily true range (ATR) for the pair currently is 95 pips.
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