What ProAct Forex Target Traders See: We are currently sitting @ 1.3140. The pair is close to our near term target of 1.3088. We are looking for a short correction up to start a 4th wave up before the resumption to the downside. The average daily true range (ATR) for the pair currently is 52 pips.
What ProAct Forex Target Traders See: We are currently @ 105.05 just 9 pips above the103.96 where we were a week ago. We are no longer in a range but we are still ranging 9Just is a very tight area) and have 3 nice waves in place. We are looking for a corrective wave back to the 103.00-13 area and then a bounce to the target @ 104.86. The average daily true range (ATR) for the pair currently is 44 pips.
What ProAct Forex Target Traders See: Cable is currently sitting @ 1.6603. We expect a bounce shortly but the rectangle suggests more downside first. Our immediate target is the 1.618 fibo @ 1.6465. The average daily true range (ATR) for the pair currently is 50 pips.
$AUDUSD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: Aussie is @ 0.9284 and appears to have finished a 4th corrective wave. We are looking to continue down to the S3 target of the 5th wave @ 0.9231 with a possible bottom at the 0.9200 area. The average daily true range (ATR) for the pair currently is 40 pips.
CAUTION IS URGED - TRADE WITH STOPS!!!!!
IMPORTANT NOTICE: These comments are for educational purposes only. The information contained on this document does not constitute a solicitation to buy or sell by ProAct Traders, LLC., www.proacttraders.com Forex Target Trading www.forextargettrading.com and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors. We monitor multiple indicators as well as established chart analysis in our Forex trading software.
There is No “Holy Grail” in Forex trading systems. Do not use our research or any other trading system without proper research on the asset.
This is an opinion ONLY - and not a trade call, but a study that may lead you to a trade. I do not know whether this will transpire or not so use your own judgment.