$EURUSD

WHAT Forex Target Traders SEE:  We are currently sitting @ 1.2501.  We can clearly see a 5 wave downward movement is completed and should see a abc correction to the upside.  I like a movement to the .214 Fibo @ 1.2711 and then get bearish.  We could also range this week which would shorten the range to the .382 Fibo @ 1.2620. 

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$USDJPY                                       

WHAT Forex Target Traders SEE:  We are currently @ 79.38 after a bounce out of the downtrend.  I am not convinced yet that the uptrend is in force.  While it appears that a bottom has been established for the possible uptrend I would like a little more proof since this so early in the move and it could easily be a false breakout.  I will not be totally sold on the Bulls until the R4 @ 80.02 is taken out.  Up target is 81.40 area ( R5 and Fib extension).  Down target is the bottom @ 77.69 area.

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$GBPUSD

WHAT Forex Target Traders SEE:  Cable is currently @ 1.5469.  Similar to the EURUSD - We can clearly see a 5 wave downward movement is completed and should see a abc correction to the upside.  I like a movement to the .214 Fibo @ 1.5726 and then get bearish. 

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$AUDUSD – A great smooth currency for Newbie’s!

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There is No “Holy Grail” in Forex trading systems. Do not use our research or any other trading system without proper research on the asset.

This is an opinion ONLY - and not a trade call, but a study that may lead you to a trade. I do not know whether this will transpire or not so use your own judgment.