Scott Barkley
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Scott Barkley in Proact Traders,

Target Trading in the Forex upcoming week of August 17th, 2014

$EURUSD

What ProAct Forex Target Traders See:  We are currently sitting @ 1.3397.  The pair is in a nice channel inside the downtrend and currently in a sideways move.  This is bearish for the pair.  We are looking for a short correction up to start a 5th wave down and the continuation to the S5 @ 1.3321. The average daily true range (ATR) for the pair currently is 47 pips.

 

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