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GBPAUD–Correction over?

Bearish: Currently we are @ 1.7575 in a big 3rd wave. We are looking to break this flag and then looking for a continuation to the 0.618 Fibo @ 1.7443 and then to the support @ 1.73698. The average daily true range (ATR) for the pair currently is 143 pips.

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Target Trading in the Forex week of June 10th, 2018 EU UJ GU AU

Note: USDX is barely BULLISH (for now) but still in the down channel and could be starting a 5th wave down. Be aware that that could change in a heartbeat and will affect the currencies below. ATR’s have increased but not by much.

$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

NZDJPY–Channel bounce?

Bullish: Currently we are @ 77.58 in a range and a well-built channel and a ascending wedge. We are looking to break this wedge and then looking for a continuation to the 1.618 Fibo @ 78.21 and then to the 2.270 Fibo @ 78.76. The average daily true range (ATR) for the pair currently is 83 pips.

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June Real Estate of the Month Trade Setup Idea

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

 

06/04/18 127.95 start

 

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GBPAUD–slope support break?

 

Bearish: Currently we are @ 0.7519 in a 3rd wave. We are looking to break this current support and then looking for a continuation to the 1.618 Fibo @ 0.7444 and then to the 2.270 Fibo @ 0.7360. Watch for the bounce there. The average daily true range (ATR) for the pair currently is 144 pips.

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EURGBP–support break?

Bearish: Currently we are @ 0.8738 in a range. We are looking to break this current support and the looking for a continuation to the 0.786 Fibo @ 0.8669 and then to the range bottom @ 0.8622. Watch for the bounce there. The average daily true range (ATR) for the pair currently is 48 pips but it pays an average of 34% more money than the EURUSD.

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USDCAD–Descending wedge?

Bearish: Currently we are @ 1.2918 in a range and a descending wedge. We are looking for a continuation to the 0.786 Fibo @ 1.2807 and then to the range bottom @ 1.2742. Watch for the bounce there. The average daily true range (ATR) for the pair currently is 108 pips.

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