Target Trading In The Forex: Week Of September 14, 2014
Scott Barkley | Sep 14, 2014 02:02AM ET
EURUSD
What ProAct Forex Target Traders See: We are currently sitting at 1.32949. We are looking for a correction to the 0.500 Fibo at 1.3019 and then a breakdown to the support at 1.2859. The average daily true range (ATR) for the pair currently is 65 pips.
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USDJPY
What ProAct Forex Target Traders See: We are currently at 107.33. We are at the top of the trend so we are looking for a retracement to the 0.382 Fibo at 106.36 and then a continuation to the top again at 107.18 with 108.12 as the target. The average daily true range (ATR) for the pair currently is ONLY 58 pips.
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GBPUSD
What ProAct Forex Target Traders See: Cable is currently sitting at 1.6258. We are looking for a pullback to end near the 0.500 fibo at 1.6348 and then another move down to the double bottom at 1.0652 The average daily true range (ATR) for the pair currently is 95 pips.
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AUDUSD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: Aussie is at 0.9042. We continue to look lower to the 1.270 Fibo at 0.8960 for the next move after a correction and maybe as low as the support at 0.8895. The average daily true range (ATR) for the pair currently is 66 pips.
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