FX Target Trading: Week Of November 8th, 2015
Scott Barkley | Nov 07, 2015 10:52AM ET
EUR/USD
What ProAct Forex Target Traders See: We are currently sitting at 1.0746 after a big reaction to NFP. We are looking for a corrective move first and then a move to the 1.618 Fibo at 1.0687 with an overall target of 1.0532 this week. The average daily true range (ATR) for the pair currently is 108 pips.
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USD/JPY
What ProAct Forex Target Traders See: We are currently at 123.24 and out of the range. We are looking for a correction and then a continuation to the 124.00 area with an overall target of 125.00. The average daily true range (ATR) for the pair currently is 83 pips.
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GBP/USD
What ProAct Forex Target Traders See: Sterling is currently at 1.5041. We are looking for a correction initially, then a move to the 1.270 Fibo at 1.4958 with an overall target of 1.4767. The average daily true range (ATR) for the pair currently is 102 pips.
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AUD/USD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: Aussie is at 0.7040. We are looking for a corrective move first and then a continuation to the S5 at 0.7005 with an overall target at 0.6950. The average daily true range (ATR) for the pair currently is 70 pips.
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