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Target Trading In The Forex Week Of October 1, 2017

ByScott Barkley
Published 09/30/2017, 10:37 AM
Euro US Dollar
0.08%
British Pound US Dollar
0.03%
US Dollar Japanese Yen
-0.41%
Australian Dollar US Dollar
0.20%
DX
-0.10%

EUR/USD Chart


Note: Currently US Dollar Index is bullish – affects the direction below so I will give both scenarios.
EUR/USD
What ProAct Forex Target Traders See: We are currently sitting at 1.1819 in a range. We are looking for a continuation down to the double bottom support at 1.1659 and then the bottom at 1.1484. 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 at 112.52 in a range. We are looking for a continuation up to the double top resistance at 113.26 and then the range top at 114.37. The average daily true range (ATR) for the pair currently is 86 pips.
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GBP/USD
What ProAct Forex Target Traders See: We are currently sitting at 1.3400 after completing a big 5 waves up move. Up move was a fundamental reaction so… A couple of different scenarios: 1: Bullish: a corrective move first to the support at 1.3254 area and bounce to go up again 2: Bearish: A break down to the 0.618 Fibo support at 1.3112 and then the bottom at 1.2997. The average daily true range (ATR) for the pair currently is 129 pips.
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AUD/USD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: We are currently sitting at 0.7843 in a triangle. We are looking for a continuation down to the 1.618 Fibo support at 1.7712, bounce and then the bottom at 1.7631 area. The average daily true range (ATR) for the pair currently is 64 pips.usdjpy

gbpusd

AUD/USD Chart

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