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Forex Target Trading: Week Of March 29, 2015

ByScott Barkley
Published 03/28/2015, 10:27 AM
Updated 10/05/2023, 10:02 PM


EUR/USD
What ProAct Forex Target Traders See: We are currently sitting @ 1.0931. Although the overall picture still suggests more downward movement, we are still out of the established trend. Until the direction can be proven expect a sideways move. The upside target is the R6 @ 1.1087 while the downside target is the1.618 Fibo @ 1.0595. The average daily true range (ATR) for the pair currently is 199 pips.

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USD/JPY
What ProAct Forex Target Traders See: We are currently @ 119.12 in a big sideways move. We said last week “looking to the 118.85 for that target”-we easily got there. Looking now for a corrective move up. The average daily true range (ATR) for the pair current the Day chart bottom @ 117.121(or sideways) and then the Day chart bottom @ 117.11. The average daily true range (ATR) for the pair currently is 90 pips
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GBP/USD
What ProAct Forex Target Traders See: Cable is currently sitting @ 1.4873. We have a break out of the former trend due to FOMC and currently in a symmetrical wedge. Over all downside is favored but not before a correction. We are looking to the 1.5046 Resistance and if it breaks above the 0.500 Fibo r look to the R6 @ 1.5245. The average daily true range (ATR) for the pair currently is 198 pips.

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AUD/USD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: Aussie is @ 0.7749. While we do have the start of a corrective up trend it was caused by FOMC? If it bounces, look to the 0.7938 which would hold the sideways move. If we get a downside continuation look for a move to the support Day support area @ 0.7578. The average daily true range (ATR) for the pair currently is 120 pips.EUR/USD 4-Hour ChartUSD/JPY 4-Hour ChartGBP/USD 4-Hour Chart

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