Target Forex Trading: Week Beginning Sept 18th
Scott Barkley | Sep 24, 2016 10:34AM ET
EUR/USD
What ProAct Forex Target Traders See: We are currently sitting at 1.1227 in a channel and a range. We are looking for a Breakout (due to FOMC) and continuation to the Top. First stop is the 0.214 Fibo at 1.1330 and the second the Day top at at 1.1470. The average daily true range (ATR) for the pair currently is ONLY 59 pips.
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USD/JPY
What ProAct Forex Target Traders See: We are currently sitting at 101.05 in a channel and a range. We are looking for a move initially to the day bottom at 103.95 with a target overall this week at the 1.270 Fibo 97.32. 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 at 1.2964 and in a large range. We are looking for a bounce at 1.2868 with a target overall this week back at 1.3088. The average daily true range (ATR) for the pair currently is 107 pips.
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AUD/USD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: Aussie is at 0.7616 and in a triangle in a range. A couple of different scenarios: 1: Bullish: a breakout and move to the 1.270 Fibo at 0.7797 2: Bearish: A break down to the 0.786 Fibo supportat 0. 7515.The average daily true range (ATR) for the pair currently is 67 pips.
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