Scott Barkley's Blog (943)

$NZDUSD

The cross filled the Gap and hit our R4 target  0.7989 to the upside during the London session and has since pulled back.  Currently we are at 0.7984 and we expect a pullback to the 0.7969 support before resuming the move to the 2.618 Fib Extension @ 0.8057.  We are pulling stops tight at the 0.8030 Resistance.…

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Added by Scott Barkley on May 24, 2011 at 1:19pm — No Comments

$EURJPY-Bounce?

The cross hit our target to the downside Friday and has since bounced at the .786 Fibo and a day chart support If we get the bounce here @ 114.53 (?) it should continue to keep moving up the target @ 116.56 Resistance.  We may not get the bounce (although there are a set of twins there now) and a move to the downside targets the double bottom @ 113.54.…

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Added by Scott Barkley on May 23, 2011 at 1:34pm — No Comments

What ProAct Traders sees in the Forex starting the week of May 22nd,2011 –

 

$EURUSD

WHAT ProAct Traders SEE:  We are currently sitting @ 1.4156 after a break of the bear flag.  Cross should continue down to theS7 @ 1.3979 and then the  1.270 Fib extension @ 1.3810.   Lots of barriers at this target ( support) so a bounce or sideways move  is likely. A break here targets further down @ S8/1.786 fib extension - 1.3344.  Looking for a bounce there all the way back up – it can turn anywhere they decide to dump dollars.  The average daily trading range…

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Added by Scott Barkley on May 21, 2011 at 6:16pm — No Comments

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