Scott Barkley's Blog – October 2012 Archive (26)

$ EURUSD– breakout?

Currently we are  @ 1.3003  after the break of the down trend. The expected move is up  first to the R4 resistance zone  in the  1.3038 area.  A break here suggests a move to the R5  @ 1.3182 .  The daily ATR (Average True Range) is 81 Pips.

Added by Scott Barkley on October 31, 2012 at 1:02pm — No Comments

$ USDCHF– bounce or break?

Currently we are  @ 1.3053  after the break of the rising wedge which is bearish  for the pair.  The expected move is down to the  .382/.500 Fibo  in the  0.9332-0.9306 area.  A break here suggests a move to the R1/.786 Fibo  @ 0.9273.  A bounce would target a move back to the R3 @ 0.9364.  $ USDCHF–  bounce or break?…

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Added by Scott Barkley on October 30, 2012 at 1:25pm — No Comments

$USDCHF– watch the tops?

Currently we are  @ 0.9376  and sitting on  the support-which is bullish for the pair.  The expected move is up  to the resistance zone  in the  0.9414-0.9427 area.  A break here suggests a move to 0.9467. The daily ATR (Average True Range) is 55 Pips.…

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Added by Scott Barkley on October 29, 2012 at 12:59pm — No Comments

Target Trading in the Forex upcoming week of Oct 28th ,2012

$EURUSD

What Forex Target Traders See:  We are currently sitting @ 1.2936  just above  the 0.786 Fibo after bouncing on the day chart trend line.   We are bullish above 1.2975 and waiting for the bounce to prove that. We cannot rule out continued downward traction to a double bottom @ 1.2821 area.  We should see a bounce there. A break up would target the 0.214 fibo @ 1.3073. The average daily true range (ATR) for the pair currently is 87pips.…

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Added by Scott Barkley on October 27, 2012 at 3:43pm — No Comments

$EURAUD– break?

Currently we are  @ 1.2476  after the break of the support  and the .618 Fibo-which is bearish  for the pair.  The expected move is first to the resistance zone  in the  1.2435-2456 area.  A break here suggests a move to the 1.270 Fib extension  @ 1.2422  with an overall target @ 1.2400.  …

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Added by Scott Barkley on October 26, 2012 at 1:02pm — No Comments

$EURAUD–Descending Wedge?

Currently we are @ 1.2503  inside  the wedge and on the S4 support which is bearish for the pair.  The expected move is to the support  zone  in the  1.2439-2450 area.  A break there suggests a move to the 1.2400 

Added by Scott Barkley on October 25, 2012 at 1:16pm — No Comments

$NZDJPY–break?

Currently we are @ 65.04 after the bounce on the 64.69 support and we are just under the R3 resistance.   A break here and the expected move is up  first to the resistance zone  in the 65.56 area.  A break here suggests a move to the fifth wave R4  @ 65.98  with an overall target this week @ 66.37. Watch for a possible head and shoulders @ 65.34.…

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Added by Scott Barkley on October 24, 2012 at 12:55pm — No Comments

$GBPUSD–break?

Currently we are @ 1.5985 after the break of the descending wedge. The expected move is down first to the S5 support zone in the 1.5929-5943 area. A break here suggests a move to the support @ 1.5849 .

Added by Scott Barkley on October 23, 2012 at 12:57pm — No Comments

$GBPCHF–Big Move?

Currently we are  @ 1.4850  after the break of inside a descending wedge.   A break here suggests a move to the 1.270 Fib extension @ 1.4775  with an overall target this week to the S6 @ 1.4639.   

Added by Scott Barkley on October 22, 2012 at 12:57pm — No Comments

Target Trading in the Forex upcoming week of Oct 21st ,2012

$EURUSD

What Forex Target Traders See:  We are currently sitting @ 1.3032  just below  the 0.382 Fibo.   We are bullish and looking for the bounce around the .500 fibo.  We should see a bounce there and then a continuation to the R5 @ 1.3183 (also the top). A breakdown would target the 0.786 fibo @ 1.2861. The average daily true range (ATR) for the pair currently is 98 pips. …

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Added by Scott Barkley on October 20, 2012 at 3:19pm — No Comments

$EURJPY–breakdown?

Currently we are  @ 103.35  after the break of the rising wedge  which is bearish for the pair.  The expected move is down first to the .382 Fibo  @ 102.96.  A break here suggests a move to the S3/ .500 fibo  @ 102.59-102.70 . Watch for a bounce at either levels.…

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Added by Scott Barkley on October 19, 2012 at 1:08pm — No Comments

$NZDJPY–break?

Currently we are  @ 65.14  after the break of the.214 Fibo-which is bullish for the pair.  We are at a top but the expected move IF we break it is up  first to the 1.270 Fib in the  65.50-60 area.  A break here suggests a move to the R4 @ 65.98 as the overall target this week.…

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Added by Scott Barkley on October 18, 2012 at 1:07pm — No Comments

$EURJPY– finish?

Currently we are  @ 103.31  after the break of the wedge and the .214 Fibo-which is bullish for the pair.  The expected move is up to the resistance zone  in the  103.92-104.18 area.  A break here suggests a move to the resistance  @ 104.66 and that should finish the move.  …

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Added by Scott Barkley on October 17, 2012 at 1:32pm — 2 Comments

$EURUSD–break?

Currently we are  @ 1.3053  after the break of the wedge and the .382 Fibo-which is bullish for the pair.  The expected move is up  first to the resistance zone  in the  1.3092-3100 area.  A break here suggests a move to the fifth wave R5  @ 1.3187  with an overall target this week @ 1.3227..  The daily ATR (Average True Range) is 99 Pips.…

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Added by Scott Barkley on October 16, 2012 at 12:52pm — No Comments

$ NZDJPY– breakout?

Currently we are  @ 64.29 .  We are anticipating a breakout which is bullish for the pair.  The expected move is up  first to theR2  resistance zone  in the  64.58 area.  A break here suggests a move to the R3  @65.10 with an overall target this week @ 65.98 .  The daily ATR (Average True Range) is 63 Pips.…

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Added by Scott Barkley on October 15, 2012 at 12:43pm — No Comments

Target Trading in the Forex upcoming week of Oct 14th ,2012

$EURUSD

What Forex Target Traders See:  We are currently sitting @ 1.2956  on the 0.618 Fibo.   We are bullish but we are stuck in a wedge.  We should see a bull break and then a continuation to the R5 @ 1.3187. The target above the R5 resistance is resistance cluster @ 1.3240. The average daily true range (ATR) for the pair currently is 98 pips. …

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Added by Scott Barkley on October 13, 2012 at 4:00pm — No Comments

$EURCAD–continuation?

Currently we are  @ 1.2692  after breaking the ascending wedge  which is bullish for the pair.  The expected move is up to the resistance zone  in the  1.2721-39 area.  A break here suggests a move to the 0.214 Fibo  @ 1.2760. The daily ATR (Average True Range) is 76 Pips.…

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Added by Scott Barkley on October 12, 2012 at 12:56pm — No Comments

$EURUSD–bounce?

Currently we are @ 1.2928 after the trend wall bounce  which is bullish for the pair.  The expected move is up first to the resistance zone in the 1.2959-88 area.  A break here suggests a move to the fifth wave R4 @ 1.3038 with an overall target this week @ 1.3171 .  The daily ATR (Average True Range) is 99 Pips.…

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Added by Scott Barkley on October 11, 2012 at 1:08pm — No Comments

$CADJPY–wedge?

Currently we are  @ 80.16  just below the R3.  The expected move is up  first to the 0.618 fibo/resistance  in the  80.50 area which could be a top.  A break up here suggests a bigger  move to the R4  @ 81.13 .  The daily ATR (Average True Range) is 61 Pips.…

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Added by Scott Barkley on October 10, 2012 at 1:08pm — No Comments

USDCAD–wedge?

Currently  @ 0.9749 in a descending wedge which is bearish for the pair.  Expected move is down first to the 0.786 fibo in the  0.9200 area.  A breakdown here suggests a big move to the S4  @ 0.9652 .  The daily ATR (Average True Range) is 56 Pips.…

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Added by Scott Barkley on October 9, 2012 at 12:59pm — No Comments

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