Target Trading In The FX Week of May 28th, 2017
Scott Barkley | May 26, 2017 05:27PM ET
EUR/USD
What ProAct Forex Target Traders See: We are currently sitting @ 1.1171. We are looking for a move down to the Trend bottom @ 1.1024 and expect a bounce there for a potential second wave (note: this is against the USDX- but we have completed 5 waves up). The average daily true range (ATR) for the pair currently is 81 pips.
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USD/JPY
What ProAct Forex Target Traders See: We are currently sitting @ 111.26 in a large range. We are looking to continue up to the range top @ 113.71. The average daily true range (ATR) for the pair currently is 95 pips.
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GBP/USD
What ProAct Forex Target Traders See: Cable is currently @ 1.2812 and due for a correction to set a wave 2. After the correction, we are looking to the o.786 Fibo @ 1.2617 as the target. The average daily true range (ATR) for the pair currently is 82 pips.
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AUD/USD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: We are currently sitting @ 0.7447 in a nice range. We are looking for a continuation to the 0.786 Fibo @ 0.7284. The average daily true range (ATR) for the pair currently is 56 pips.
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