Scott Barkley
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Scott Barkley in Proact Traders,

Target Trading in the Forex week of May 8th, 2016 EU,UJ,GU,AU

$EURUSD

What ProAct Forex Target Traders See:  We are currently sitting @ 1.1404 in a potential reversal. As long as USDX is strengthening we are looking for a continuation move down to the 0.500 Fibo@ 1.1148 after a wave 2 is printed. A failure to break the 0.382 Fibo @ 1.1223 would indicate more ranging. The average daily true range (ATR) for the pair currently is 86 pips.

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