Target Trading in the Forex week of April 15th, 2018
|Note: USDX is non-committal. Be aware that that could change in a heartbeat and will affect the currencies below. ATR’s have increased slightly.
$EURUSD
What ProAct Traders See: Bullish: We are currently sitting @ 1.2338 in a range with divergence for an upside move. We are looking for a continuation to the upside to the square up @ 1.2459 and then a further move to 1.2559 top. The average daily true range (ATR) for the pair currently is 76 pips.
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$USDJPY
What ProAct Traders See: Bearish: We are currently @ 107.37 trying to make the turn to the downside. We have convergence to the downside so will be looking for a continuation to the 0.786 Fibo @ 105.73 and then a continuation to the range bottom @ 104.64. The average daily true range (ATR) for the pair currently is 79 pips.
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$GBPUSD
What ProAct Traders See: Bullish: Cable is currently sitting @ 1.4090 in a range. We are looking for a continuation to the range top @ 1.4361 and then to the 1.618 Fibo @ 1.4419. The average daily true range (ATR) for the pair is 97 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
What ProAct Traders See: Bullish: Aussie is @ 0.7769 in a large range for the pair and in a possible cup and handle pattern. We are watching for a continuation up to the cup top @ 0.7900 area and then to the 0.8033 area. The average daily true range (ATR) for the pair currently is 52 pips.
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