Target Trading in the Forex week of October 8, 2017

Note: Monday is a holiday in the USA – All banks are closed. USDX is still bullish.

$EURUSD

What ProAct Forex Target Traders See: We are currently sitting @ 1.1733 in a 5th wave. We are looking for a continuation down to the S4 @ 1.1605 and then bounce hard. The average daily true range (ATR) for the pair currently is 74 pips.

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$USDJPY

What ProAct Forex Target Traders See: We are currently sitting @ 112.66 in a 5th wave. We are looking for a continuation up to the double top resistance @ 114.40 and then maybe the S5 @ 115.30. The average daily true range (ATR) for the pair currently is 72 pips.

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$GBPUSD

What ProAct Forex Target Traders See: We are currently sitting @ 1.3065 in a 5th wave. Up move was a fundamental reaction so. We are looking for a continuation down to the support @ 1.2997 and then the S6 @ 1.2838. The average daily true range (ATR) for the pair currently is 99 pips.

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

What ProAct Forex Target Traders See: We are currently sitting @ 0.7767 in a 3rd wave. We are looking for a continuation down to the 0.786 Fibo support @ 1.7696, bounce for a 4th wave and then the bottom @ 1.7631-0.7600 area. The average daily true range (ATR) for the pair currently is 60 pips.

Posted to Introduction to Forex Tar... on Oct 08, 2017 — 11:10 AM

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