Currently we are @ 1.5772  just below the -0.270 Fibo.  A sideways move or small pullback is possible here .  Looking for the bullish move to the R6 @ 1.5860.  A failure to break the -0.270 Fibo  here would signal a move to the double top @ 1.5740.  We are remain bullish for now.…

$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 5^th 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…

Currently @ 1.0009 to complete the move to the bottom.  Friday is typically a square up day so looking for the cross to bounce back to the .500 Fibo @ 1.0065. We are currently below the S6 former support and a failure to  break that signals a continuation to the support  @ 0.9957. …

Currently we are @ 1.0678 to complete the move to the top of the trendline.  We are currently just above the R6 resistance and the break of that signals a continuation to the -.270 fib extension/resistance @ 1.0762.  Look for the move to stall there.  A failure to break the 1.270 Fibo @ 1.0698 would signal a potential move back to the .382 fibo  @ 1.0591. …

$NZDUSD– Trade Recap

Those in the live NY  training room got this trade today +55 pips

Currently we are @ 1.0134 in a corrective move to the top of the downtrend.  We are currently just below the  SR2 resistance and a break of that would signal a correction to the R3 @ 1.0196.  Look for the Rally to end there.  A failure to break the R2 would signal a potential move back to the double bottom @ 1.0052.…

Currently we are @ 0.9280 in wave 5 of the current downtrend.  We are currently just above the S5 Support @0.9217.  Look for a bounce there.  Next target is the 0.9200 area. …

Currently we are @ 1.3020 after the final breakout of the former down trend. We are currently just above the R5 Resistance @1.3000.  Next target is the 1.3070 area.  Overall target down is the S6  @ 1.3233.…

$EURUSD

WHAT Forex Target Traders SEE:  We are currently sitting @ 1.2981 after breaking the downtrend on the day chart – this is bullish for the cross.   We reacted at the .786 as expected but not enough to declare a move down. There is still room to the upside to the R5  @ 1.3000 and then the double top @1.3076.  This would be a 5^th wave to the top.  The average daily trading range for the cross currently is 141 pips.…

Currently we are @ 1.0419 in an ascending wedge which is bullish for the cross.  If we break the current R5 Resistance we are looking to go to the 1.0500 area.  Overall target down is the S6  @ 1.0656. A breakdown here would indicate a move back to the R4 @ 1.0279.…

Currently we are @ 0.9362 .  As we noted yesterday “A break down would confirm a move  to 0.9361 area”.  If we break the current support and it is very strong we are looking to go to the 0.9321 area.  Overall target down is the S5 and 2.618 Fib Extension @ 0.9225. A bounce here would indicate a move back to the S3 @ 0.9447.…

Currently we are  @ 0.9420 at a critical point. Charts still showing the cross stuck on a big rectangle and currently at the bottom. A break down here would confirm a move to 0.9361 area.  A bounce here would indicate a move back to the 0.618 Fib @ .9482.…

Currently we are  @ 1.5392  just under the S5.   Charts still showing a bullish bias but if you were going to peak and turn this is where to do it.  A turn down here would confirm the sideways move  and indicate another move to the 1.5280 bottom.  A continuation here (requires the break)  would indicate a move to the 0.618 Fibo @ 1.5442.…

$EURUSD

WHAT Forex Target Traders SEE:  We are currently sitting @ 1.2684 on the day chart bottom.  This is also ½ way through of the current wave 5.   There have been multiple bounces at this level in the past so don’t rule one out now.  If so look for the .786 as the ceiling. There is still room to the downside below that to the -0.786 fib extension  @ 1.2587  and then the S6 @1.2464.  We are still bearish – for now but a bounce looks very likley. The average daily…

Currently we are @ 0.7982 after bouncing on the .382 Fibo.   We could be building a bull flag or a head and shoulders but the cross looks to be staying bullish and a bounce to the .270 fib extension is not out of the question. We are still bullish above 0.7916 but a break of the that would send a signal that a move back to the trend wall bottom or a breakout to the R5 @ 0.7840.…

Currently we are  @ 1.2739 after putting in a double bottom and the bounce to the resistance @ 1.2775. We are still bearish so we may see a triple bottom but a break of the 1.2775 would send a signal that a move back to the top is in order @ 1.2830.    Next target is the double bottom @ 1.2677.  …

Currently the cross is @ 97.81  after the breakout of the bear flag and then stopping on the current minor support.  We expect a continuation to the double bottom @ 97.42.  Next target is the 0.786 fib extension @ 96.89.…

Currently the cross is @ 0.7943  after the breakout of the wedge and then hitting our target the 1.270 Fibo @ 0.7957.  We expect a slight pullback due to profit taking  and then a continuation to R6 @ 0.8006.  Interim target is the Resistance @ 0.7973.  This should finish the 5th wave for the cross and we will look then for a correction.…

Currently the cross is @ 1.0273  after moving to the top of the down trendwall.  We are  looking for the bounce off the trendline to the  .382 fibo  @ 1.0228 and then we will see.    We could also see a breakout north and that would target the -0.270 Fibo and S3 @ 1.0385.  Staying bearish for now but will not take much to become a bull.…

$EURUSD

WHAT Forex Target Traders SEE:  We are currently sitting @ 1.2722 on the .786 Fibo with room to the bottom set on 08/29/2011 @ 1.2585.  This is also the S7 of the current wave.   There is still room to the downside below that to the 1.270 fib @ 1.2399 and then the 1.1879.  We could see a bounce here to the .618 Fibo and then resumption or depending on the economic climate next week we could just go immediately.  We are still bearish – for now. The…