EUR/USD
We are currently sitting at 1.0831 and waiting for a continuation of a 3rd wave. Look to the strong support at 1.0683 as an interim target en route to 1.0448. The average daily true range (ATR) for the pair currently is 123 pips.
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USD/JPY
We tried to Trend … We are currently at 124.12 and possibly still ranging. If we turn to the downside, we are looking back to the 122.00. IF we break 124.50, look for an upside target of the 1.618 Fib Extension at 125.87. The average daily true range (ATR) for the pair currently is 96 pips.
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GBP/USD
We are currently sitting at 1.5603 in a sideways move to continue a third wave. This is totally the opposite of what it should be doing since dollar index is also rising. If this does continue, look to the 1.5800 area. A break to the downside targets the Double bottom at 1.5331 (this would then make the current pattern an abc correction). The average daily true range (ATR) for the pair currently is 120 pips.
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AUD/USD – A great smooth currency for Newbies!
Aussie is at 0.7374 in a descending wedge, which is bearish. We expect this to be a 5th wave correction and then a 5th wave to the S6 at 0.7128. The average daily true range (ATR) for the pair currently is 91 pips.
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Forex Target Trading: Week Of July 19th, 2015
Published 07/19/2015, 06:07 PM
Updated 10/05/2023, 10:02 PM
Forex Target Trading: Week Of July 19th, 2015
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