Target Trading In The Forex Week Of October 8, 2017
Scott Barkley | Oct 08, 2017 12:00PM ET
Note: Monday is a holiday in the USA – All banks are closed. USD is still bullish.
EUR/USD
What ProAct Forex Target Traders See: We are currently sitting at 1.1733 in a 5th wave. We are looking for a continuation down to the S4 at 1.1605 and then bounce hard. The average daily true range (ATR) for the pair currently is 74 pips.
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USD/JPY
What ProAct Forex Target Traders See: We are currently sitting at 112.66 in a 5th wave. We are looking for a continuation up to the double top resistance at 114.40 and then maybe the S5 at 115.30. The average daily true range (ATR) for the pair currently is 72 pips.
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GBP/USD
What ProAct Forex Target Traders See: We are currently sitting at 1.3065 in a 5th wave. Up move was a fundamental reaction so. We are looking for a continuation down to the support at 1.2997 and then the S6 at 1.2838. The average daily true range (ATR) for the pair currently is 99 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 0.7767 in a 3rd wave. We are looking for a continuation down to the 0.786 Fibo support at 1.7696, bounce for a 4th wave and then the bottom at 1.7631-0.7600 area. The average daily true range (ATR) for the pair currently is 60 pips.
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