FX Target Trading: Week Of March 13th, 2016
Scott Barkley | Mar 11, 2016 05:37PM ET
EUR/USD
What ProAct Forex Target Traders See: We are currently sitting at 1.1158 in a large range. We are looking for a finishing move to the range top at 1.1377 then reversal and an overall target of the 0.500 Fibo at 1.1048. The average daily true range (ATR) for the pair currently is 110 pips.
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USD/JPY
What ProAct Forex Target Traders See: We are currently at 113.71. We are ranging and looking for a move first to the 0.786 Fibo and then to the range bottom at 111.00 area. The average daily true range (ATR) for the pair currently is 126 pips.
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GBP/USD
What ProAct Forex Target Traders See: Cable is currently at 1.4387. We are looking for a 3rd wave move to the 1.618 Fibo at 1.4560 then a pullback and resumption to the Day top at 1.4654. The average daily true range (ATR) for the pair currently is 131 pips.
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AUD/USD – A great smooth currency for Newbies!
What ProAct Forex Target Traders See: Aussie is at 0.7571. We are looking for a 3rd wave finishing move to the 1.270 Fibo at 0.7673 then a 4th wave pullback and an overall target of the 1.618 Fibo at 0.7904. The average daily true range (ATR) for the pair currently is 88 pips.
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