Target Trading In The Forex Week Of 11/19/2017
Scott Barkley | Nov 18, 2017 11:51AM ET
Note: USDX is weak at the moment- affects the movement below. Most ATR’s are dropping leading to more ranging.
EUR/USD
What ProAct Forex Target Traders See: We are currently sitting at 1.1797 inside a range. We are looking to finish an a-b-c correction and then continue to the 0.382 Fibo at 1.11889 and then continue to the 0.214 Fibo at 1.1980. The average daily true range (ATR) for the pair currently is 59 pips.
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USD/JPY
What ProAct Forex Target Traders See: We are currently sitting at 112.13 in a 3rd wave. We are looking for a continuation to the 0.618 Fibo at 111.59 area and an overall target of the 0.618 Fibo at 110.13. The average daily true range (ATR) for the pair currently is 69 pips.
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GBP/USD
What ProAct Forex Target Traders See: We are currently sitting at 1.3216 in a range. We are looking for a continuation up to the square up at 1.3350 area and then a reversal back to the 0.618 Fibo at 1.3216. The average daily true range (ATR) for the pair currently is 98 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 0.7567 in the end of a 5th wave. We are looking for a bounce back to the 0.7668 area. The average daily true range (ATR) for the pair currently is 47 pips.
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