EUR/USD
What ProAct Forex Target Traders See: We are currently sitting at 1.3756. We are looking for a continued correction to the 1.3650 ish area and then a bounce back to the 1.4000. The average daily true range (ATR) for the pair currently is 77 pips.
USD/JPY
What ProAct Forex Target Traders See: We are currently at 101.09 (same as last 2 weeks) in a triangle. A couple of different scenarios: 1: bullish: a Breakout move to the 104.00. 2: Bearish : A break down out of the triangle would set up a C wave to the day chart trend line near 100.22. 3: a range trade is it goes sideways . The average daily true range (ATR) for the pair currently is 66 pips.
GBP/USD
What ProAct Forex Target Traders See: Cable is currently sitting at 1.6604. Will look for the 5th wave down to the Day chart Trend line at 1.6550 with further targets at the S5 at 1.6219 and 1.6400. The average (14 day) daily true range (ATR) for the pair currently is 84 pips.
AUD/USD: A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: Aussie is at 0.9250 and appears to have put a top in place at the trend line. Looking for a correction (maybe) to the 0.9163 and hten a bounce to the R5 at 0.9306 with further targets at 0.9373. The average daily true range (ATR) for the pair currently is 77 pips.