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Forex Target Trading: Week Of November 25, 2012

By ForexNov 25, 2012 09:57AM GMT Add a Comment
 
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EUR/USD
We are currently sitting at 1.2991 at after breaking north of the 0.214 Fibonacci. We are bullish above 1.2900 and waiting for the pullback to finish. We are looking for upward traction first to the R5 at 1.3038 area. A break there would target the 1.270 fib extension around 1.3117. The average daily true range (ATR) for the pair currently is 78 pips.

USD/JPY
We are currently at 82.27. We are bullish above 81.50. Looking to move first to the 1.618 Fibonacci extension at 83.15 and then R6 resistance.

GBP/USD
The cable is currently at 1.6032. We have broken out of the large downtrend. The targets down are: 2.270 Fibonacci extension at 1.6172, Then the overall target is 1.6211 support area. The average daily true range (ATR) for the pair currently is 67 pips.

AUD/USD
The aussie is currently at 1.0458. We are in the 5th wave up on the pair and are looking for continuation to the R4 at1.0527. Look for a sideways move there before a more to the R5 at 1.0615. The average daily true range (ATR) for the pair currently is 65 pips.
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