Target Trading in the Forex week of July 16th, 2017

Note: Currently USDX is bearish

$EURUSD

What ProAct Forex Target Traders See: We are currently sitting @ 1.1466 in a channel inside a channel. We are looking to complete a 5th wave in the 1.1720 area as lomng as the USDX stays bearish. It could end at the 1.1600 area though. It might take a while though since the pair’s ATR is so low for its popularity. The average daily true range (ATR) for the pair currently is 57 pips.

————————————————————————--

$USDJPY

What ProAct Forex Target Traders See: We are currently sitting @ 112.52 in a 3rd wave. We are looking to continue down to the 0.786 @ 111.60 area and watch for a 4th wave bounce there. The average daily true range (ATR) for the pair currently is 73 pips.

——————————————————————————–

$GBPUSD

What ProAct Forex Target Traders See: Cable is currently @ 1.3102 and in 3rd wave up. We are looking for a quick correction and then a continuation to the 1.618 Fibo @ 1.3331. The average daily true range (ATR) for the pair currently is 71 pips.

——————————————————————————–

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

What ProAct Forex Target Traders See: We are currently sitting @ 0.7821 and in 1 5th and final wave up. We are looking to continue to the R5 @ 0.7854. The average daily true range (ATR) for the pair currently is 48 pips.

Posted to Introduction to Forex Tar... on Jul 16, 2017 — 9:07 PM

Recent free content from Pro Act Traders

Comments ({[comments.length]})
Sort By:
Loading Comments
No comments. Break the ice and be the first!
Error loading comments Click here to retry
No comments found matching this filter
  • {[comment.author.username]} — Marketfy Staff — Maven — Member
Want to add a comment? Take me to the new comment box!