Target Trading in the Forex week of September 10th, 2017

Scott Barkley ProAct Traders

Note: Currently USDX is bearish

$EURUSD

What ProAct Forex Target Traders See: We are currently sitting @ 1.2027 in a 5th wave. We are looking to continue to the R6 @ 1.2772. The average daily true range (ATR) for the pair currently is 87 pips.

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$USDJPY

What ProAct Forex Target Traders See: We are currently sitting @ 107.77 in a 5th wave. We are looking to break the significant support and continue initially to the support @ 106.89 and then to the S6 @ 104.57. The average daily true range (ATR) for the pair currently is 89 pips.

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$GBPUSD

What ProAct Forex Target Traders See: We are currently sitting @ 1.3201. We are in a range. We are looking to break the triangle and continue initially to the 0.786 Fibo @ 1.2734. IF we can break the range top look to the 1.270 Fibo @ 1.3447 as the top. If the range holds, look for a move back to 1.3000 area. The average daily true range (ATR) for the pair currently is ONLY 76 pips.

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$AUDUSD – A great smooth currency for Newbie’s!

What ProAct Forex Target Traders See: We are currently sitting @ 0.8053 in a corrective wave. We are looking to finish the correction (4th wave) and then continue up to the R5 @ 0.8247. The average daily true range (ATR) for the pair currently is 69 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.

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

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