Target Trading in the Forex week of 10/14/2017

Note: USDX is still bullish although in a correction in my opinion. ATR’s are really dropping.

$EURUSD

What ProAct Forex Target Traders See: We are currently sitting @ 1.1820 in a 5th wave. We are looking for a continuation down to the S4 @ 1.1626 and then bounce hard. The average daily true range (ATR) for the pair currently is 64 pips.

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$USDJPY

What ProAct Forex Target Traders See: We are currently sitting @ 111.88 in a range. We are looking for a bounce point so watching the 0.382 for a possible one and then a continuation up to the top @ 114.40. The average daily true range (ATR) for the pair currently is 58 pips.

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$GBPUSD

What ProAct Forex Target Traders See: We are currently sitting @ 1.3289 in a range. Current move is a correction in response to the USDX. We are looking for a continuation down to the support @ 1.2997. The average daily true range (ATR) for the pair currently is 92 pips.

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

What ProAct Forex Target Traders See: We are currently sitting @ 0.7887 in a 4th wave. We may need to complete an abc correction BEFORE a continuation down to the bottom @ 1.7697--0.7733 area. The average daily true range (ATR) for the pair currently is 51 pips.

Target Trading