Target Trading in the Forex week of March 6th, 2016 (EU,UJ,GU,AU)

$EURUSD

What ProAct Forex Target Traders See: We are currently sitting @ 1.1002 in a large range. A couple of different scenarios: 1: Bullish: a move to the 0.214 Fibo @ 1.1236 area and 2: Bearish: A break down to the double bottom support @ 0.0710. The average daily true range (ATR) for the pair currently is 82 pips.

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$USDJPY

What ProAct Forex Target Traders See: We are currently @ 113.96 ( 3 pips from this time last week). We are ranging and looking for a move first to the 0.500 Fibo and then to the range bottom @ 111.05 area. The average daily true range (ATR) for the pair currently is 76 pips.

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$GBPUSD

What ProAct Forex Target Traders See: Cable is currently @ 1.1224. A couple of different scenarios: 1: Bullish: a move to the 0.618 Fibo @ 1.4558 area and 2: Bearish: A break down to the double bottom support @ 1.3836. The average daily true range (ATR) for the pair currently is 141 pips.

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

What ProAct Forex Target Traders See: Aussie is @ 0.7452 in a large range. We are looking for a finishing move to the range top @ 0.7500 then reversal and an overall target of the 0.618 Fibo @ 0.7084. The average daily true range (ATR) for the pair currently is 80 pips.

Posted to Introduction to Forex Targe… on Mar 05, 2016 — 2:03 PM
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