Target Trading in the Forex week of May 7th, 2017 EU,UJ,GU,AU

$EURUSD

What ProAct Forex Target Traders See:  French elections could change everything.  We are currently sitting @ 1.0948 in a large range but we have bias north due to a support line and USDX currently down.  We are looking for a move to the double top @ 1.1138 and then back to the 0.214 Fibo @1.0967 area. The average daily true range (ATR) for the pair currently is 78 pips.

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$USDJPY                                                                                                                   

What ProAct Forex Target Traders See:  We are currently sitting @ 112.48 in a large expanding wedge. A couple of different scenarios:  1:  Bullish: a move to the square up @ 114.50 and 2: Bearish: A break down to the 0.500 @ 110.54.  The average daily true range (ATR) for the pair currently is 86 pips.

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$GBPUSD                                                                                                                   

What ProAct Forex Target Traders See:  Cable is currently @ 1.2981. We are looking for a continuation to the 0.618 Fibo @ 1.3240 and then correct.  The average daily true range (ATR) for the pair currently is 94 pips.

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

What ProAct Forex Target Traders See:  Aussie is being a contrarian: USDX down, AUDUSD down? We are currently sitting @ 0.7422 in a large range.  We are looking for a continuation to the 0.786 Fibo @ 0.7284 and then correct.  The average daily true range (ATR) for the pair currently is 56 pips.

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