Target Trading In The Forex Week Of 12/17/2017
Scott Barkley | Dec 16, 2017 10:59AM ET
Note: USDX is ranging bias to strength – should affect all USD pairs
EURUSD
What ProAct Forex Target Traders See: We are currently sitting at 1.1758 starting a 3rd wave in a day chart range. The Range will limit the trend. We are looking for an initial move down to the 0.786 Fibo/support at 1.16628 and then the 4th wave to 1.1700 before the resumption of the 5th wave. The average daily true range (ATR) for the pair currently is 68 pips.
————————————————————————---
USDJPY
What ProAct Forex Target Traders See: We are currently sitting at 112.63 in a channel in a 400 pip range. We are looking for an initial move to the 0.214 Fibo at 113.91 and then the top at 114.72. The average daily true range (ATR) for the pair currently is 74 pips.
——————————————————————————–
GBPUSD
What ProAct Forex Target Traders See: We are currently sitting at 1.3321 in a range and in a box. We are looking for move down to the 0.786 Fibo at 1.3148 and then the continuation to the range bottom at 1.3031. The average daily true range (ATR) for the pair currently is 109 pips.
——————————————————————————–
AUDUSD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: We are currently sitting at 0.7648 in a short trend in a range. It appears that the 4th wave may be a false breakout to complete the 4th wave corrective pattern. We are looking for an initial move down to the 0.786 Fibo at 0.7497 and then the continuation to the day bottom at 0.7324. The average daily true range (ATR) for the pair currently is 53 pips.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.