$EURUSD
WHAT Forex Target Traders SEE: We are currently sitting @ 1.3218 after breaking the resistance @ 1.3185 – this is bullish for the cross. We are very close to the R 5 starting at the pullback @ 1.2855 and this would be the 5th wave. There is still room to the upside to the -0.270 fib extension @ 1.3323 and then a big move should the dollar still stay in the cellar to the 1.3443 -0.618 Fib extension. Afailure to break the R5 is Bearish for the cross and we will look to see to the .382 Fibo @ 1.30874. The average daily trading range for the cross currently is 135 pips.
——————————————————————————–
$USDJPY
WHAT Forex Target Traders SEE: We are currently @ 76.68 after a strong selloff. IF we can break the 76.57 bottom the target would then be the 75.54 Support. Any downside more invites a potential intervention since this area is where it happened the last time- so be cautious. A bounce signals a move back to the top @ 78.20. The average daily trading range for the cross currently is 60 pips.
——————————————————————————–
$GBPUSD
WHAT Forex Target Traders SEE: Cable is currently @ 1.5731 and is just below the day chart top @1.5780 . Should we break that: Upside targets are R6 @ 1.59416 with resistance @ 1.5876. Upper targets reamin @ 1.6052 and 1.6137. A break to the downside targets the 0.382 Fibo @ 1.5547. The average daily trading range for the cross currently is 100 pips.
——————————————————————————–
$AUDUSD – A great smooth currency for Newbie’s!
WHAT Forex Target Traders SEE: We are currently @ 1.0659 after breaking the wedge and topping out @ the R7. This is a good run for the cross and should create a reversal at this area. There is a little more room to the 1.0760 resistance and it could move a lot further. If it stays in the uptrend look for a move to the1.100 psychological area @1.100. A reversal would take it back to the 0.382 Fibo @ 1.373. The average daily trading range for the cross currently is 106 pips.
Forex Trading Software and Live Forex Trade Room
CAUTION IS URGED – TRADE WITH STOPS!!!!!
IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by ProAct Traders, LLC., www.proacttraders.com and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors. We monitor multiple indicators as well as established chart analysis in our Forex trading software.
There is No “Holy Grail” in Forex trading systems. Do not use our research or any other trading system without proper research on the asset.
This is an opinion ONLY – and not a trade call, but a study that may lead you to a trade. I do not know whether this will transpire or not so use your own judgment.
