Target Trading in the Forex week of March 18th, 2018
|Note: USDX is in a “possible” bullish trend. Be aware that that could change in a heartbeat and the ATR’s are falling.
$EURUSD
What ProAct Traders See: Bearish: We are currently sitting @ 1.2286 after putting in a top. We are looking for a continuation to the 0.618 Fibo @ 1.1953 and then a bounce and further move to 1.1789. The average daily true range (ATR) for the pair currently is 87 pips.
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$USDJPY
What ProAct Traders See: Waiting: We are currently @ 106.05 in a downside channel. We are cautiously awaiting the start of a bullish move but could have one more move to the downside before that happens. There is divergence for an upside move. We will be looking for a continuation to the 0.786 Fibo @ 107.16. The average daily true range (ATR) for the pair currently is 81 pips.
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$GBPUSD
What ProAct Traders See: Bearish: Cable is currently sitting @ 1.3944 in a range. As long as USDX is up, we are looking for a continuation to the 0.786 Fibo @ 1.3648. The average daily true range (ATR) for the pair is 102 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
What ProAct Traders See: Bearish: Aussie is @ 0.7713 in a large channel in a range. We are watching for a continuation down to the Day support@ 0.7500 area. The average daily true range (ATR) for the pair currently is 63 pips.
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