Forex Target Trading: Week Of March 8, 2015
Scott Barkley | Mar 07, 2015 10:43AM ET
EUR/USD
What ProAct Forex Target Traders See: We are currently sitting @ 1.0850 and have not been here since 2003. We should see a correction from NFP and then continued move southward toward the 1.618 Fibo @ 1.0635. The average daily true range (ATR) for the pair currently is 110 pips.
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USD/JPY
What ProAct Forex Target Traders See: We are currently @ 120.69. We are “Possibly” starting to trend but still inside the range so 2 scenarios: 1) reverse on the Range top back to 118.85 or 2) break through and trend for 122.27. The average daily true range (ATR) for the pair currently is 81 pips.
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GBP/USD
What ProAct Forex Target Traders See: Cable is currently sitting @ 1.5052 with a breakout to the downside. We should see a correction from NFP and then continued move southward toward the Support @ 1.5012 and maybe to the S6 @ 1.4942. The average daily true range (ATR) for the pair currently is 104 pips.
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AUD/USD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: Aussie is @ 0.7767 and still potentially ranging even after NFP. If we get a break down below 0.7688 that would signal a move out of the rage and the target is the support area @ 0.7593-605. The average daily true range (ATR) for the pair currently is 83 pips.
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