Scott Barkley
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Scott Barkley in Proact Traders,

Target Trading in the Forex week of July 30th, 2017

Note:  Currently USDX is bearish

$EURUSD

What ProAct Forex Target Traders See:   We are currently sitting @ 1.1760 in the top of a trend nearing the top of a 3rd wave.  With USDX down the Euro needs to go up but no room. A couple of different scenarios:  1:  Bullish: a sideways move and then another thrust to 1.618 Fibo @ 1.1845 area and 2: Bearish: A break down to complete a 4th wave and then bounce for a 5th wave. The average daily true range (ATR) for the pair currently is 81 pips.

Image: 

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