Target Trading In The Forex Week Of 10/14/2017
Scott Barkley | Oct 28, 2017 10:34AM ET
Note: USDX is in a 5th wave up – will end sometime. ATR’s are rising.
EUR/USD
What ProAct Forex Target Traders See: We are currently sitting at 1.1599 trending inside a day range. We are looking to continue to the double bottom support at 1.1484 and a possible bounce there. The average daily true range (ATR) for the pair currently is 72 pips.
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USD/JPY
What ProAct Forex Target Traders See: We are currently sitting at 113.69 in the start of a 5th wave. We are looking for a continuation to the 1.618 Fibo at 115.24 area and a reversal there. The average daily true range (ATR) for the pair currently is 68 pips.
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GBP/USD
What ProAct Forex Target Traders See: We are currently sitting at 1.3125 in a range. We are looking for a continuation down to the 1.270 Fibo at 1.2587 area and maybe all the way to the day bottom at 1.2773. 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: We are currently sitting at 0.7673 in a 5th wave. We are looking for a continuation down to the 0.786 Fibo/S5/Day bottom at 0.7520 area and a bounce there. We could continue down to the 0.7300 area. The average daily true range (ATR) for the pair currently is 52 pips.
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