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Target Trading in the Forex week of August 6th, 2017

Note:  Currently USDX is bullish after NFP

$EURUSD

What ProAct Forex Target Traders See:   We are currently sitting @ 1.1781 after breaking out of a rising wedge.  We are looking to do a 4th wave down to the trend wall and then decision time.  Do they do a 5th wave up or break out? Target Up: 1.1860 Target down 1.1562.  The average daily true range (ATR) for the pair currently is 91 pips.

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$NZDJPY- Descending Wedge?

Currently we are @ 81.95 in a descending wedge but with divergence.  We are looking for a final move to the 1.270 Fibo @ 81.13 and then a bounce. The average daily true range (ATR) for the pair currently is 80 pips.

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$EURUSD- Rising Wedge?

Currently we are @ 1.1832 in a rising wedge and divergence which is bearish for the pair.  If we break out we are looking for a move to the 0.382 Fibo @ 1.3085 and then continue to the 0.500 Fibo @ 1.1673 to complete a 4th corrective wave and then a 5th wave bounce. The average daily true range (ATR) for the pair currently is 92 pips.

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$GBPUSD- Rising Wedge?

Currently we are @ 1.3207 in a rising wedge which is bearish for the pair.  If we break out we are looking for a move to the 0.214 Fibo @ 1.3085 and then either continue to the 0.500 Fibo @ 1.2980 or bounce (as a 5th wave) and continue up.  Look to the USDX for clues. The average daily true range (ATR) for the pair currently is 97 pips.

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EURGBP- Triangle break

Currently we are @ 0.8939 in a triangle pattern.  If we break out we are looking for a move to the 0.500 Fibo @ 0.8870 and then continue to the square up @ 0.8800.  The average daily true range (ATR) for the pair currently is 74 pips.


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Target Trading in the Forex week of July 30th, 2017

Note:  Currently USDX is bearish

$EURUSD

What ProAct Forex Target Traders See:   We are currently sitting @ 1.1760 in the top of a trend nearing the top of a 3rd wave.  With USDX down the Euro needs to go up but no room. A couple of different scenarios:  1:  Bullish: a sideways move and then another thrust to 1.618 Fibo @ 1.1845 area and 2: Bearish: A break down to complete a 4th wave and then bounce for a 5th wave. The average daily true range (ATR) for the pair currently is 81 pips.

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$GBPUSD- wave finish?

Currently we are @ 1.3146 in the last throes of a 5th wave.  We are looking for a move to the R5 @ 1.3206 and look to print a head and shoulders reversal pattern there.  The average daily true range (ATR) for the pair currently is 92 pips.

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$GBPUSD- wave finish?

$EURGBP- triangle breakout?

Currently we are @ 0.8925 in a large range.  We have just come out of a triangle and IF we can break this support we are looking for a move to the 0.500 Fibo @ 0.8870 and a break there to the square up/0.786 Fibo @ 0.8798. The average daily true range (ATR) for the pair currently is 73 pips.

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$GBPCHF- Range Trade?

Currently we are @ 1.2376 in a large range.  We are looking for a move to the 0.618 to the 0.618 Fibo @ 1.2410 and a break there to the resistance @ 1.2454. The average daily true range (ATR) for the pair currently is 106 pips.

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$GBPAUD- reversal?

Currently we are @ 1.6403 and finishing a 5th wave.  We have a heads and shoulders pattern printed and  are looking for a continuation back to the 0.618 Fibo @ 1.6571 and a break there to the support @ 1.6717. The average daily true range (ATR) for the pair currently is 156 pips.


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