Forex Target Trading: Week Of November 22nd
Scott Barkley | Nov 22, 2015 05:12PM ET
EUR/USD
What ProAct Forex Target Traders See: We are currently sitting @ 1.0637. We are looking for a break of the support and then a move to the S6 support @ 1.0462 with an overall target of 1.0378. The average daily true range (ATR) for the pair currently is 86 pips.
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USD/JPY
What ProAct Forex Target Traders See: We are currently @ 122.89 in a sideways move. We are WAITING for direction! A couple of different scenarios: 1: Bullish: a move to the upper day chart top @ 125.11 area) and 2: Bearish: A break down to the 0.500 fibo support @ 120.84. The average daily true range (ATR) for the pair currently is 60 pips.
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GBP/USD
What ProAct Forex Target Traders See: Sterling is currently @ 1.5188. We are looking for a move to the support @ 1.5028. This may be the end so watch for a reversal. A continuation here targets the 1.4905. The average daily true range (ATR) for the pair currently is 88 pips.
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AUD/USD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: Aussie is @ 0.7130 in a large box. We are looking for then a continuation to the 0.7358 with a possible overall target @ 0.7498. The average daily true range (ATR) for the pair currently is 61 pips.
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