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USDJPY – range opportunity?

Bearish: Currently we are @ 110.73 in a range. IF we can break the support here @ 110.73, we are looking for a continuation to the square up @ 109.90. The target this week is 109.40 area. The average daily true range (ATR) for the pair currently is 61 pips.

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NZDJPY – breakout opportunity?

Bearish: Currently we are @ 72.78 in a channel in a range.  IF we can break the support here @ 72.36, we are looking for a continuation to the 1.270 Fibo @ 71.58.  The target this week is 70.00 area. The average daily true range (ATR) for the pair currently is 64 pips.

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GBPAUD–3rd wave opportunity?

Bearish: Currently we are @ 1.7577 in the start of a 3rd wave in a trend. IF we can break the 0.500 Fibo here @ 1.7554, we are looking for a continuation to the 0.618 Fibo/S3 @ 1.7512. The target this week is 1.7300 area. The average daily true range (ATR) for the pair currently is 118 pips.

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Target Trading in the Forex week of August 11th, 2018 EU UJ GU AU

Note: USDX is bullish and quite possibly trending? We are looking for a pullback and possible 4th wave before the continuation to the upside and then a move to the 0.618 Fibo @ 94.736 and a bounce there. Be aware that that could change in a heartbeat and will affect the currencies below. ATR’s have DECREASED but if we are starting to trend, could increase back to normal.

$EURUSD

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What I See in the Forex
What I See in the Forex
What I See in the Forex
What I See in the Forex
What I See in the Forex

EURJPY–Flag opportunity?

Bearish: Currently we are @ 128.76 in a range. IF we can break the 0.618 Fibo here we are looking for a continuation to the 0.786 Fibo @ 127.79. The average daily true range (ATR) for the pair currently is 82 pips.

 

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EURAUD–range opportunity?

Bullish: Currently we are @ 1.5660 in a range. IF we can break the 0.500 Fibo here we are looking for a continuation to the 0.382 Fibo @ 1.5716 and then on to the equilibrium @ 1.5718 later this week. The average daily true range (ATR) for the pair currently is 94 pips.

 

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August Real Estate of the Month Trade Setup Idea 08/06/2018:

This month's ProAct Traders “Real estate of the month” (formerly the pay your mortgage trade) idea is found in the GBPJPY pair.

08/06/18 144.06 start

We are looking to take the first trade on the break of the falling wedge or on a bounce at the Day chart bottom @ 143.61. This is a big box (range) and the target at the top is 149.00 which means an opportunity for 494-530 Pips.

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REOTM

GBPUSD–reversal opportunity?

Bullish: Currently we are @ 1.2957 in a range. IF we can break this slope resistance we are looking for a continuation to the 0.786 Fibo @ 1.3067 and then on to the 0.618 Fibo @ 1.3149 later this week. The average daily true range (ATR) for the pair currently is 97 pips.

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