Target Trading in the Forex week of 11/19/2017
|Note: USDX is weak at the moment- affects the movement below. Most ATR’s are dropping leading to more ranging.
$EURUSD
What ProAct Forex Target Traders See: We are currently sitting @ 1.1797 inside a range. We are looking to finish an a-b-c correction and then continue to the 0.382 Fibo @ 1.11889 and then continue to the 0.214 Fibo @ 1.1980. The average daily true range (ATR) for the pair currently is 59 pips.
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$USDJPY
What ProAct Forex Target Traders See: We are currently sitting @ 112.13 in a 3rd wave. We are looking for a continuation to the 0.618 Fibo @ 111.59 area and an overall target of the 0.618 Fibo @ 110.13. The average daily true range (ATR) for the pair currently is 69 pips.
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$GBPUSD
What ProAct Forex Target Traders See: We are currently sitting @ 1.3216 in a range. We are looking for a continuation up to the square up @ 1.3350 area and then a reversal back to the 0.618 Fibo @ 1.3216. The average daily true range (ATR) for the pair currently is 98 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: We are currently sitting @ 0.7567 in the end of a 5th wave. We are looking for a bounce back to the 0.7668 area. The average daily true range (ATR) for the pair currently is 47 pips.
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