Scott Barkley
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Scott Barkley in Proact Traders,

Target Trading in the Forex

Note: USDX is weak at the moment- affects the movement below. Most ATR’s are dropping leading to more ranging.

$EURUSD

What ProAct Forex Target Traders See: We are currently sitting @ 1.1668 inside a day range. We are looking to continue to the 0.618 Fibo and pullback there @ 1.1762 and then continue to the 0.500 Fibo @ 1.1826. The average daily true range (ATR) for the pair currently is 64 pips.

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$USDJPY

What ProAct Forex Target Traders See: We are currently sitting @ 113.58 in a large range. We are looking for a continuation to the support @ 11.81 area and an overall target of the 0.500 Fibo @ 111.04. The average daily true range (ATR) for the pair currently is 71 pips.

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$GBPUSD

What ProAct Forex Target Traders See: We are currently sitting @ 1.3198 in a range. We are looking for a continuation down to the square up @ 1.3350 area and then a reversal back to the 0.786 Fibo @ 1.3267. The average daily true range (ATR) for the pair currently is 97 pips.

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

What ProAct Forex Target Traders See: We are currently sitting @ 0.7658 in a 5th wave. We are looking for a continuation down to the S5/Day bottom @ 0.7520 area and a bounce there as the completion. Due to the USDX already moving down this may have already completed. We could continue down to the 0.7300 area. The average daily true range (ATR) for the pair currently is 49 pips.