Target Trading in the Forex week of Feb 1st, 2016 (EU,UJ,GU,AU)

$EURUSD

What ProAct Forex Target Traders See: We are currently sitting @ 1.1145 and starting a 3rd wave. Short term of course you can see a potential move down to the 1.1019 but looking to continue to the 0.618 Fibo @ 1.1385 with a continuation to the R7 @ 1.1500. The average daily true range (ATR) for the pair currently is 95 pips.

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$USDJPY

What ProAct Forex Target Traders See: We are currently @ 116.90. We are looking for a pullback to the S5 and then a decision. Range: look to the 120.43. Trending: move to 113.97. The average daily true range (ATR) for the pair currently is 126 pips.

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$GBPUSD

What ProAct Forex Target Traders See: Sterling is currently @ 1.4500 and we are looking to finish the correction and then bounce to the R6 @ 1.4692 The average daily true range (ATR) for the pair currently is 148 pips.

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

What ProAct Forex Target Traders See: Aussie is @ 0.7067 and possibly still in a large range. A couple of different scenarios: 1: Bullish: a move to the square up @ 0.7267 area) and 2: Bearish: A break down to the support @ 0.6816. The average daily true range (ATR) for the pair currently is 95 pips.

Posted to Introduction to Forex Targe… on Feb 06, 2016 — 10:02 AM
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