Target Trading in the Forex week of Oct 23rd, 2016 EU,UJ,GU,AU
|What ProAct Forex Target Traders See: We are currently sitting @ 1.0881 breaking out of a range a range. A couple of different scenarios: 1: Bullish: a bounce to the 0.382 Fibo @ 1.1054 area (this would indicate an attempt to trend) and 2: Bearish: A break down to the 2.270 support @ 1.0655. The average daily true range (ATR) for the pair currently is ONLY 65 pips.
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What ProAct Forex Target Traders See: We are currently sitting @ 103.83 in a range. A couple of different scenarios: 1: Bullish: a break out of the range to the 1.618 Fibo @ 105.18 area (this would indicate an attempt to trend and 2: Bearish: A move to the range top then break down to the 0.786 Fibo @ 106.58. The average daily true range (ATR) for the pair currently is 82 pips.
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$GBPUSD
What ProAct Forex Target Traders See: Cable is currently @ 1.2222 and in a large range. We are looking for continued cable weakness in the short run and expect a move to the bottom @ 1.2100. The average daily true range (ATR) for the pair currently is 165 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: Aussie is @ 0.7601 and in a range. We are looking for a move to the range bottom near 0.7450. The average daily true range (ATR) for the pair currently is 61 pips.
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