Target Trading in the Forex week of July 31st , 2016 EU,UJ,GU,AU

$EURUSD

What ProAct Forex Target Traders See: We are currently sitting @ 1.1179 in a narrow range. A couple of different scenarios: 1: Bullish: a break above 1.1250 look to move to the range top @ 1.1470 area and maybe the 1.1638 and 2: Bearish: a failure to break the 1.1250 area look for a break down to the double bottom support @ 1.0837. The average daily true range (ATR) for the pair currently is 71 pips.

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$USDJPY

What ProAct Forex Target Traders See: We are currently @ 102.06 in an extended 5th wave due to the BOG policy and at the bottom of a trend. We are looking fo a continuation to the square up @ 101.00 before a bounce r a bounce and continuation to the 0.500 Fibo @ 103.20. The average daily true range (ATR) for the pair currently is 159 pips.

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$GBPUSD

What ProAct Forex Target Traders See: Cable is currently @ 1.3177 and in a large range. A couple of different scenarios: 1: Bullish: a move to the top @ 1.13543 area and 2: Bearish: Continued Brexit affect: A break down to the double bottom support @ 1.2944. The average daily true range (ATR) for the pair currently is 188 pips.

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

What ProAct Forex Target Traders See: Aussie is @ 0.7599 and in a channel northbound. We are looking now for a move to the range top @ 0.7700 and a possible continuation to the top @ 0.7000 area. The average daily true range (ATR) for the pair currently is 77 pips.

Posted to Introduction to Forex Targe… on Jul 29, 2016 — 5:07 PM
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