Target Trading in the Forex week of Sept. 17th, 2017
|Note: Currently USDX is bearish – affects the direction below
$EURUSD
What ProAct Forex Target Traders See: We are currently sitting @ 1.1945 in a range. We are looking to continue up to the 0.214 Fibo @ 1.2039 and ultimately to the double top @ 1.2095. The average daily true range (ATR) for the pair currently is 83 pips.
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$USDJPY
What ProAct Forex Target Traders See: We are currently sitting @ 110.84 at the top of the range and the USDX is bearish. We are looking to move to the 0.618 Fibo @ 108.74 and then to the double bottom @ 107.32. The average daily true range (ATR) for the pair currently is 95 pips.
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$GBPUSD
What ProAct Forex Target Traders See: We are currently sitting @ 1.3585 after the crazy moves last week. A couple of different scenarios – both bullish: 1: a sideways move and then a finish at the R6/1.270 Fibo @ 1.3735 area and 2: A pullback to the 0.382 Fibo @ 1.3436 and then a finish at the R6/1.270 Fibo @ 1.3735 area. The average daily true range (ATR) for the pair currently is 109 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: We are currently sitting @ 0.8003 after completing a 4thwave. We are looking initially for a move to the double top @ 0.8126 with an overall target of 0.8180. The average daily true range (ATR) for the pair currently is 64 pips.
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