Target Trading in the Forex week of March 19th , 2017 EU,UJ,GU,AU
|Note: ATR’s still low and FOMC not yet filtered out
$EURUSD
What ProAct Forex Target Traders See: We are currently sitting @ 1.0742 in a large range. IF we have continued USDX weakness look for a move to the day top @ 1.0860 and then a bounce back there. The average daily true range (ATR) for the pair currently is 69 pips.
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$USDJPY
What ProAct Forex Target Traders See: We are currently sitting @ 112.68 in a large channel. We are looking for a continued break down to the square up @ 112.26 and then a continuation to the day chart bottom @ 111.38. The average daily true range (ATR) for the pair currently is 77 pips.
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$GBPUSD
What ProAct Forex Target Traders See: Cable is currently @ 1.2391. We are either in a large range or we are in a 4th correction wave and setting up for a 5th wave down. A couple of different scenarios: 1: Bullish: a break above the current channel and look to the 1.2701 area 2: Bearish: A break down to the double bottom support @ 1.1992. The average daily true range (ATR) for the pair currently is 77 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: Aussie is @ 0.7702 in a range. A couple of different scenarios: 1: Bullish: a move to the upper resistance @ 0.7782 area and then a break up to the 1.618 Fibo @ 0.7891 2: Bearish: A break down @ the 0.7782 to stay in the range back to the 0.382 Fibo @ 0.7656. The average daily true range (ATR) for the pair currently is 61 pips.
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