What ProAct Forex Target Traders See: We are currently sitting @ 1.2178. Looking to see what reaction we get at the 2.618 Fibo @ 1.2109. A break down here would set up a nice move to the S6 @ 1.1993. The average daily true range (ATR) for the pair currently is 97 pips.
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$USDJPY
What ProAct Forex Target Traders See: We are currently @ 120.40. A couple of different scenarios: 1: bullish: A move above 121.50 would signal a continuation to the trend line top around 125.00 . 2: Bearish : A break down here make this an head and shoulders pattern that would set up a move back to the 0.382 Fibo @ 115.44. The average daily true range (ATR) for the pair currently is 150 pips.
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$GBPUSD
What ProAct Forex Target Traders See: Cable is currently sitting @ 1.5553 after breaking the rectangle which is bearish. We are looking for the1.618 fibo @ 1.5293. The average daily true range (ATR) for the pair is 106 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: Aussie is @ 0.8073 in a channel. If we take out the day chart support @ 0.8073, look to the S7 @ 0.7806. A bounce here, look to correct back to the 0.8263 level. The average daily true range (ATR) for the pair currently is 80 pips.
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Editors’ Picks
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Gold price sits at all-time highs above $2,230
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Jito price could hit $6 as JTO coils up inside this bullish pattern
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Key events in developed markets next week
Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.