Scott Barkley's Blog – May 2014 Archive (8)

Target Trading in the Forex upcoming week of June 1, 2014

$EURUSD

What ProAct Forex Target Traders See:  We are currently sitting @ 1.3632 after a violent correction from the rising wedge which we alerted to.  The correction is on the 0.786 Fibo which is a definite bounce point so watch for a move back up – which may be short-lived.  If we do not get the bounce look for the 1.3473 Day chart target down.  The average daily true range (ATR) for the pair currently is 63 pips.…

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Added by Scott Barkley on May 31, 2014 at 3:19pm — No Comments

$AUDJPY- Make the turn?

Currently we are at 94.52. We are looking for a move through the bear flag and then a continuation to the S4 area @ 93.82. Overall target next week is 92.95.    The average daily true range (ATR) for the pair currently is 55 pips.

Added by Scott Barkley on May 30, 2014 at 12:58pm — No Comments

Target Trading in the Forex upcoming week of May 18, 2014

Note: I am traveling for My daughter’s wedding – will not be able to post again until the 28th!

$EURUSD

What ProAct Forex Target Traders See:  We are currently sitting @ 1.3716 after a violent correction.  The correction should set up a run back  to the 5th wave R5 @ 1.4024 with a stall at 1.3850 area.  The average daily true range (ATR) for the pair currently is 63 pips.…

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Added by Scott Barkley on May 17, 2014 at 1:18pm — No Comments

$EURAUD- Flag Break?

Currently we are at 1.4644 in a bear flag. We are looking for a break and then a continuation to the S7 area @ 1.4557.  The average daily true range (ATR) for the pair currently is 128 pips.

Added by Scott Barkley on May 16, 2014 at 1:10pm — No Comments

Target Trading in the Forex upcoming week of May 11, 2014

Note: the continuing pattern of lower and lower ATR’s makes the outer targets harder to reach.

$EURUSD

What ProAct Forex Target Traders See:  We are currently sitting @ 1.3755 after massive stops were run over on Friday (square up day).  We said this last week “… this could turn bearish in a heartbeat”.   The break back into the former downtrend suggests a continuation to the S5 @ 1.3617 with a stall at 1.3665-72.  The average daily true range (ATR) for the pair…

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Added by Scott Barkley on May 10, 2014 at 2:29pm — No Comments

$AUDUSD- Flag Break?

Currently we are at 0.9371.We are looking for a continuation to the R4 area/1.270 Fibo @ 0.9436 AFTER the break of the bull flag.  The average daily true range (ATR) for the pair currently is 63 pips.

Added by Scott Barkley on May 9, 2014 at 11:23am — No Comments

Target Trading in the Forex upcoming week of May 4, 2014

Note: the continuing pattern of lower and lower ATR’s makes the outer targets harder to reach.

$EURUSD

What ProAct Forex Target Traders See:  We are currently sitting @ 1.3872.  We were able to get the gap closed and we continue to hover above the 1.3850.  While this should turn bearish in a heartbeat we will look for the pair to continue the slow laborious ascent inside the channel to 1.4042.  A breakdown will target the R2 at around 1.3768.  The average daily…

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Added by Scott Barkley on May 3, 2014 at 3:17pm — No Comments

$AUDJPY- rectangle break?

Currently we are at 94.82. We are looking for a continuation to the Day chart trend line area @ 94.10-16 and then a possible bounce.  The average daily true range (ATR) for the pair currently is 72 pips.

Added by Scott Barkley on May 1, 2014 at 12:13pm — No Comments

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