What ProAct Forex Target Traders See: We are currently sitting @ 1.227. A couple of different scenarios: 1: bullish: This could be starting a head and shoulders pattern for a move above 1.2500 would target the R5 Resistance @ 1.2615 and then the R6 @ 1.2870). 2: Bearish : A break down here would set up a nice move to the 2.618 Fibo @ 1.2109. The average daily true range (ATR) for the pair currently is 115 pips.
What ProAct Forex Target Traders See: We are currently @ 119.53. A couple of different scenarios: 1: bullish: This could be a bounce for a rally to the R8 again @ 121.85. 2: Bearish : A break down here would set up an a-b-c correction to the 0.500 Fibo @ 113.51. The average daily true range (ATR) for the pair currently is 166 pips.
What ProAct Forex Target Traders See: Cable is currently sitting @ 1.5632 in a descending wedge which is ultimately bearish. We are looking first for the S7 @ 1.5540 and then the 1.618 Fibo @ 1.5293. A break up would target the Former S6 @ 1.5917. The average daily true range (ATR) for the pair is 115 pips.
$AUDUSD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: Aussie is @ 0.8142 in a channel. We expect to finish at the day chart support @ 0.8073 and then a move to correct at the resistance @ 0.8263. The average daily true range (ATR) for the pair currently is 93 pips.
CAUTION IS URGED - TRADE WITH STOPS!!!!!
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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.