Scott Barkley's Blog – February 2013 Archive (23)

$AUDUSD- continuation?

Currently we are at 1.0250  after a nice correction. We are looking now for the continuation to the support  @ 1.0221  (chance of inverse head and shoulder there) with further targets at the second wave S4 @ 1.0145  area.  The current average daily trading range (ATR) is 76 pips.…

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Added by Scott Barkley on February 28, 2013 at 2:14pm — No Comments

$GBPCHF- Correction over??

Currently we are at 1.4100  in a bull flag after filling the gap. We are looking now for the end of the correction, but where?  A bounce to the downside @ 1.4118 or a continued more to 1.4179 and then the downside move. Either way the target is @ 1.3907  area.    The current average daily trading range (ATR) is 139 pips.…

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Added by Scott Barkley on February 27, 2013 at 2:31pm — No Comments

$EURUSD- next stop?

Currently we are at 1.3066  after the break of the first wave S6 support @ 1.3095. We are looking now for the continuation to the double bottom @ 1.3000 with further targets at the second wave S6   @ 1.2900  area.    The current average daily trading range (ATR) is 114 pips.…

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Added by Scott Barkley on February 26, 2013 at 2:29pm — No Comments

$EURCAD- back to the top?

Currently we are at 1.3610  after bouncing on the bottom trend line. We are looking now for the continuation to the R5 Resistance @ 1.3717  if we get a clean break of 1.3620    The current average daily trading range (ATR) is 109 pips.

Added by Scott Barkley on February 25, 2013 at 2:10pm — No Comments

Target Trading in the Forex upcoming week of Feb 24th ,2013

$EURUSD

What Forex Target Traders See:  We are currently sitting @ 1.3180 after breaking the day chart trend line to the downside. We are looking for a continuation to the S6 support @ 1.3090  at the least and a bounce is possible there.   Be aware that they may bounce it now back to the day chart trend and then go from there.  The down target on a continuation is the bottom @ 1.3000.  The average daily true range (ATR) for the pair currently is 114 pips. …

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Added by Scott Barkley on February 23, 2013 at 4:07pm — 1 Comment

$NZDUSD- back to the top?

Currently we are at 0.8384  after bouncing on the bottom trend line. We are looking now for the continuation to the .500 Fibo @ 0.8422 with the upper target the day chart top  @ 0.8478  area.    The current average daily trading range (ATR) is 75 pips.…

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Added by Scott Barkley on February 22, 2013 at 1:41pm — No Comments

$EURUSD- back to the bottom?

Currently we are at 1.3194 stalling on the Support. We are looking now for the continuation to the S6 Support @ 1.3095.  Should see a bounce there if not the end - If not look for the continuation to the double bottom @ 1.2986  area.    The current average daily trading range (ATR) is 109 pips.…

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Added by Scott Barkley on February 21, 2013 at 2:08pm — No Comments

$GBPUSD-still more!

Currently we are at 1.5304 after breaking through the day chart trend line @1.5361 . We are looking now for the continuation to the 3rd wave S6 Support @ 1.5270.  Further target is the 2nd wave S7 support @ 1.5192  area.  The current average daily trading range (ATR) is 118 pips.…

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Added by Scott Barkley on February 20, 2013 at 2:00pm — No Comments

$EURJPY- back to the bottom!

Currently we are at 124.81 after the pullback and tagging the top trend line. We are looking now for the continuation to the Support @ 123.32.  There is a possibility that we will form a Head and shoulders pattern there.   If not look for the continuation to the .786 @ 122.60  area.    The current average daily trading range (ATR) is 208 pips.…

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Added by Scott Barkley on February 19, 2013 at 1:50pm — No Comments

Target Trading in the Forex upcoming week of Feb 17th ,2012

$EURUSD

What Forex Target Traders See:  We are currently sitting @ 1.3355  in a wedge at the bottom of the day chart trend wall.  If we get the bounce out of the wedge look for the move to the 1.3483  and then we are bullish up to 1.3572.  A breakout to downside targets the S6 @ 1.3106. The average daily true range (ATR) for the pair currently is 109 pips. …

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Added by Scott Barkley on February 16, 2013 at 4:08pm — No Comments

$AUDUSD- back to the bottom!

Currently we are at 1.0319 after the pullback and tagging the top trend line. We are looking now for the continuation to the Support @ 10282.  There is a possibility that we will form a Head and shoulders pattern there.   If not look for the continuation to the double bottom @ 1.0243 area.    The current average daily trading range (ATR) is 72 pips.…

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Added by Scott Barkley on February 15, 2013 at 2:06pm — 4 Comments

$USDCHF- keeps climbing!

Currently we are at 0.9223 after the breakout of the rectangle pattern. We have had a small pullback and now looking for the move to the R4 target @ 0.9255 and then the continuation to the double 0.214 Fibo @ 0.9311 area. The current average daily trading range (ATR) is 64 pips.…

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Added by Scott Barkley on February 14, 2013 at 2:06pm — No Comments

$GBPCHF- Still more left!

Currently we are at 1.4271 after the pullback. We booked 90 pips on first part of the sell off and looking now for the completion on the break of the .786 Fibo @ 1.4261. There is a possible pullback first to the S4 @ 1.4320 area first and then the continuation to the double bottom @ 1.4170 area. The current average daily trading range (ATR) is 128 pips.…

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Added by Scott Barkley on February 13, 2013 at 2:11pm — No Comments

$EURAUD- Pennant!

Currently we are at 1.3122  after nice trade up form 1.3075 yesterday.  A breakout out of the pennant should initially go to the R6 @ 1.3180 with a further target @ 1.3217.  The current average daily trading range (ATR) is 124 pips.

Added by Scott Barkley on February 12, 2013 at 2:06pm — No Comments

$USDJPY- Bounces!

Currently we are at 93.44 after the bounce we suspected @ 92.64.  There is a possible head and shoulders pattern to contend with but the strength of the bounce suggests the continuation to the double top @ 94.00  area.    The current average daily trading range (ATR) is 107 pips…

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Added by Scott Barkley on February 11, 2013 at 2:17pm — No Comments

Target Trading in the Forex upcoming week of Feb 10th ,2013

$EURUSD

What Forex Target Traders See:  We are currently sitting @ 1.3363.  Although currently the 240 trend is down we are approaching the day chart trend line to the upside. We are looking for a bounce at the least and a reversal is certainly possible.  The key area IF we get the bounce will be the 0.618 Fibo @ 1.3432.   The down target on a continuation is the bottom @ 1.3270.  Up target on a breakout is the 1.3569 area. The average daily true range (ATR) for the pair…

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Added by Scott Barkley on February 9, 2013 at 4:38pm — No Comments

$USDCAD- continuation!

Currently we are at 1.0006 after breaking out of the downtrend.  We are looking to the R2 @ 1.0035 as an initial target (might be a small pull back there) and then 1.0059  before the R3 top @ 1.0092.  The current average daily trading range (ATR) is 51 pips.…

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Added by Scott Barkley on February 8, 2013 at 2:13pm — No Comments

$EURAUD- Double Top!

Currently we are at 1.3128  in a rectangle pattern which suggests the continuation to the double top @ 1.3215 area.    We could still see a pullback to 1.3015 before the top.  A break above targets the 1.3289-3304 target.  The current average daily trading range (ATR) is 106 pips.…

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Added by Scott Barkley on February 7, 2013 at 1:57pm — No Comments

$AUDUSD- near term target!

Currently we are at 1.0306.   We are  sitting above the support @ 1.0278 which is the next target. Overall target area is the S5/support @ 1.0223 area.  The current average daily trading range (ATR) is 52 pips.

Added by Scott Barkley on February 6, 2013 at 2:21pm — No Comments

$USDJPY- Bounces!

Currently we are at 93.32 after bouncing on the support @ 92.15.   We are  sitting above the 1.618 Fibo resistance. If we get follow through the target area up is the 3rd wave @ 93.91 area.  The current average daily trading range (ATR) is 103 pips.…

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Added by Scott Barkley on February 5, 2013 at 2:23pm — No Comments

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