Target Forex Trading: Week Of January 23 - 27, 2017
Scott Barkley | Jan 21, 2017 10:19AM ET
EUR/USD
What ProAct Forex Target Traders See: We are currently sitting at 1.0705 in a large channel in a range. We are looking to continue working this channel up to the range top at 1.0796 and then start a down move. The average daily true range (ATR) for the pair currently is 87 pips.
————————————————————————--
USD/JPY
What ProAct Forex Target Traders See: We are currently sitting at 114.31. We are looking to initially move to the S6 at 112.50 and correct there before resumption to the bottom at 111.38. The average daily true range (ATR) for the pair currently is 144 pips.
——————————————————————————–
GBP/USD
What ProAct Forex Target Traders See: Cable is currently at 1.2377. We are in a large range. We are looking to move to the 0.214 Fibo at 1.2556 area with a continuation to the range top at 1.2689. The average daily true range (ATR) for the pair currently is 150 pips.
——————————————————————————–
AUD/USD – A great smooth currency for Newbies!
What ProAct Forex Target Traders See: Aussie is at 0.7560 and in a 5th wave. We are looking to the 0.7679 are to top pout and then rollover for a down move. The average daily true range (ATR) for the pair currently is 68 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.