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Target Trading In The Forex Week Of 12/17/2017

ByScott Barkley
Published 12/16/2017, 10:59 AM
Updated 10/05/2023, 10:02 PM


Note: USDX is ranging bias to strength – should affect all USD pairs
EURUSD
What ProAct Forex Target Traders See: We are currently sitting at 1.1758 starting a 3rd wave in a day chart range. The Range will limit the trend. We are looking for an initial move down to the 0.786 Fibo/support at 1.16628 and then the 4th wave to 1.1700 before the resumption of the 5th wave. The average daily true range (ATR) for the pair currently is 68 pips.
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USDJPY
What ProAct Forex Target Traders See: We are currently sitting at 112.63 in a channel in a 400 pip range. We are looking for an initial move to the 0.214 Fibo at 113.91 and then the top at 114.72. The average daily true range (ATR) for the pair currently is 74 pips.
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GBPUSD
What ProAct Forex Target Traders See: We are currently sitting at 1.3321 in a range and in a box. We are looking for move down to the 0.786 Fibo at 1.3148 and then the continuation to the range bottom at 1.3031. The average daily true range (ATR) for the pair currently is 109 pips.
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AUDUSD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: We are currently sitting at 0.7648 in a short trend in a range. It appears that the 4th wave may be a false breakout to complete the 4th wave corrective pattern. We are looking for an initial move down to the 0.786 Fibo at 0.7497 and then the continuation to the day bottom at 0.7324. The average daily true range (ATR) for the pair currently is 53 pips.

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EURUSD

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AUDUSD

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