Target Trading in the Forex week of 11/19/2017
Note: USDX is weak at the moment- affects the movement below. Most ATR’s are dropping leading to more ranging.
$EURUSD
What ProAct Forex Target Traders See: We are currently sitting @ 1.1797 inside a range. We are looking to finish an a-b-c correction and then continue to the 0.382 Fibo @ 1.11889 and then continue to the 0.214 Fibo @ 1.1980. The average daily true range (ATR) for the pair currently is 59 pips.
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$USDJPY
What ProAct Forex Target Traders See: We are currently sitting @ 112.13 in a 3rd wave. We are looking for a continuation to the 0.618 Fibo @ 111.59 area and an overall target of the 0.618 Fibo @ 110.13. The average daily true range (ATR) for the pair currently is 69 pips.
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$GBPUSD
What ProAct Forex Target Traders See: We are currently sitting @ 1.3216 in a range. We are looking for a continuation up to the square up @ 1.3350 area and then a reversal back to the 0.618 Fibo @ 1.3216. The average daily true range (ATR) for the pair currently is 98 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: We are currently sitting @ 0.7567 in the end of a 5th wave. We are looking for a bounce back to the 0.7668 area. The average daily true range (ATR) for the pair currently is 47 pips.
Author
Scott Barkley
ProAct Traders
Scott Barkley is the President of ProAct Traders LLC located in Round Rock, Texas. Scott graduated from the institute For Latin American Studies in Cuernavaca, Mexico.
