Blog

Target Trading in the Forex week of April 1st, 2018

Note: USDX is in a bullish move and we expect it to continue to the top. Be aware that that could change in a heartbeat and will affect the currencies below. ATR’s are finally increasing.

$EURUSD

ProAct Traders See: Bearish: We are currently sitting @ 1.2319 in a range. We are looking for a continuation of the downside move to the square up @ 1.2235 and then a further move to 1.2151. The average daily true range (ATR) for the pair currently is 91 pips.

————————————————————————--

$USDJPY

Image(s): 

EURAUD – Top break

Bearish: Currently we are @ 1.6035 after a break to the downside.  We are looking for a continuation to the 0.500 Fibo @ 1.5916 and expect consolidation in that area. The average daily true range (ATR) for the pair currently is 129 pips.

Image(s): 

The most traded currency pair ready for another push higher

The EURUSD is trading in a big box. Currently, it is making higher highs and higher lows and recently it has done a pullback to the bottom of an up channel. There is high probability of a bounce to the upside and the continuation of the pattern.

Image(s): 

EURNZD - channel

Bearish: Currently we are @ 1.0742 back in the channel. We are looking for a continuation to the 0.618 Fibo @ 1.6948 with the next target the 0.786 Fibo @ 1.6889. The average daily true range (ATR) for the pair currently is 111 pips.

Image(s): 

AUDNSD - Flag

Bearish: Currently we are @ 1.0610 in a flag pattern. We are looking for a continuation o the Day support @ 1.0561 with the next target the 2.270 Fibo @ 1.0520. The average daily true range (ATR) for the pair currently is 55 pips (low but trends well out of consolidation).

Image(s): 

AUDNSD - Flag

Bearish: Currently we are @ 1.0610 in a flag pattern. We are looking for a continuation o the Day support @ 1.0561 with the next target the 2.270 Fibo @ 1.0520. The average daily true range (ATR) for the pair currently is 55 pips (low but trends well out of consolidation).

Image(s): 

Target Trading in the Forex week of March 25th, 2018

Note: USDX is in a Sideways move and close to the bottom – watch for a bounce or breakout. Be aware that that could change in a heartbeat and will affect the currencies below. ATR’s are still dropping.

$EURUSD

ProAct Traders See: Bearish: We are currently sitting @ 1.2365 in a symmetrical triangle. We have divergence for the downside move so are looking for a continuation to the 0.618 Fibo @ 1.1953 and then a bounce and further move to 1.1789. The average daily true range (ATR) for the pair currently is 81 pips.

————————————————————————--

$USDJPY

Image(s): 

AUDJPY -breakdown

Bearish: Currently we are @ 81.44 and just breaking the correction support. We are looking for a continuation to the 1.270 Fibo @ 80.88 and then a continuation to the 1.618 Fibo @ 80.39. The average daily true range (ATR) for the pair currently is 94 pips.

 

Image(s): 

Placing a pending trade in advance in GCAD

GPBCAD is currently in an uptrend but in correction mode. This is giving an opportunity to buy the next higher low. We identified two zones of support: at 1.8230 and 1.8150. Those can be areas where buyers come in to push the market higher and create a new high.

Trade Idea: Placing a buy limit at 2nd zone of support (1.8150). Next target is at 1.8444 which will give us a WOS of almost 300 pips.

Image(s): 

Pages