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Target FX Trading: EUR/USD, USD/JPY, GBP/USD, AUD/USD

ByScott Barkley
Published 07/16/2016, 11:56 AM
Updated 10/05/2023, 10:02 PM

EUR/USD
What ProAct Forex Target Traders See: We are currently sitting at 1.1069 in an extremely narrow range. We are looking for a break down to the range bottom at 1.0971 and a possible bounce there. If the range is bigger look for a move to 1.0837. The average daily true range (ATR) for the pair currently is 82 pips.
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USD/JPY
What ProAct Forex Target Traders See: We are currently at 105.45 and we have divergence. We are looking for a continuation to the 0.500 Fibo at 103.20 and a possible continuation to the 0.786 Fibo at 101.37. The average daily true range (ATR) for the pair currently is 123 pips.
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GBP/USD
What ProAct Forex Target Traders See: Cable is currently at 1.3220 and in a large rectangle which is bearish for the pair. We are going to see what a rate hike and Brexit is going to produce. We are looking for a continuation to the 0.500 Fibo at 1.3080 and then we will see. A bounce to the range top or a breakdown to the range bottom. The average daily true range (ATR) for the pair currently is 205 pips.
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AUD/USD – A great smooth currency for newbies!
What ProAct Forex Target Traders See: Aussie is at 0.7598 and breaking out of a rising wedge with divergence. We are looking for a move to the 0.500 Fibo at 0.7466 and then a move to the range bottom at 0.7375. The average daily true range (ATR) for the pair currently is 81 pips.

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EUR/USD Chart

USD/JPY Chart

GBP/USD Chart

AUD/USD Chart

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