Scott Barkley
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Scott Barkley in Proact Traders,

Target Trading in the Forex week of 10/14/2017

Note: USDX is in a 5th wave up – will end sometime. ATR’s are rising.

$EURUSD

What ProAct Forex Target Traders See: We are currently sitting @ 1.1599 trending inside a day range. We are looking to continue to the double bottom support @ 1.1484 and a possible bounce there. The average daily true range (ATR) for the pair currently is 72 pips.

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$USDJPY

What ProAct Forex Target Traders See: We are currently sitting @ 113.69 in the start of a 5th wave. We are looking for a continuation to the 1.618 Fibo @ 115.24 area and a reversal there. The average daily true range (ATR) for the pair currently is 68 pips.

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$GBPUSD

What ProAct Forex Target Traders See: We are currently sitting @ 1.3125 in a range. We are looking for a continuation down to the 1.270 Fibo @ 1.2587 area and maybe all the way to the day bottom @ 1.2773. The average daily true range (ATR) for the pair currently is 104 pips.

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$AUDUSD – A great smooth currency for Newbie’s!

What ProAct Forex Target Traders See: We are currently sitting @ 0.7673 in a 5th wave. We are looking for a continuation down to the 0.786 Fibo/S5/Day bottom @ 0.7520 area and a bounce there. We could continue down to the 0.7300 area. The average daily true range (ATR) for the pair currently is 52 pips.