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Target Trading In The Forex: Week of August 10th, 2014

ByScott Barkley
Published 08/09/2014, 10:06 AM
Updated 10/05/2023, 10:02 PM


EURUSD
What ProAct Forex Target Traders See: We are currently sitting at 1.3413. The pair is in a nice channel inside the downtrend. We are looking for a correction up to start a 5th wave down and the continuation to the S6 at 1.3099. The average daily true range (ATR) for the pair currently is 43 pips.

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USDJPY
What ProAct Forex Target Traders See: We are currently at 102.08. We are still in a range but the Day chart trend break could mean the bulls are back. If a break of the R4 at 103.13 occurs look for the0.382 fibo at 103.68 as the target. A break down targets the 0.786 Fibo at 101.80. The average daily true range (ATR) for the pair currently is 43 pips.

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GBPUSD
What ProAct Forex Target Traders See: Cable is currently sitting at 1.6778. We are anticipating a correction and then a continuation to the support at 1.1.6700 with an overall target of 1.6582. The average daily true range (ATR) for the pair currently is 51 pips.
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AUDUSD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: Aussie is at 0.9279 after putting in a nice head and shoulder reversal pattern. We are looking to continue to the S5 target at 0.9128. The average daily true range (ATR) for the pair currently is 47 pips.EUR/USDUSD/JPYGBP/USDAUD/USD

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