Target Trading In The Forex Upcoming Week
Scott Barkley | Nov 22, 2014 12:00PM ET
EUR/USD
What ProAct Forex Target Traders See: We are currently sitting @ 1.2392 in a 5th wave. We could get the turn here. If not, look to the 1.618 Fibo @ 1.2193 as the target. The average daily true range (ATR) for the pair currently is 111 pips.
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USD/JPY
What ProAct Forex Target Traders See: We are currently @ 117.72. We are looking for a correction back to the support area @ 115.62. The average daily true range (ATR) for the pair currently is 116 spips.
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GBP/USD
What ProAct Forex Target Traders See: Cable is currently sitting @ 1.5662 – just 10 pips from last weeks level. We said last week; “We could go sideways and range” . We are looking for the 4.236 Fibo @ 1.5294. The average daily true range (ATR) for the pair is 109 pips.
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AUD/USD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: Aussie is @ 0.8669 in a correction which is ultimately bearish. We could get a pullback to 0.8743. We do expect a move to the S4 @ 0.8566 . The average daily true range (ATR) for the pair currently is 105 pips.
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