Target Trading in the Forex upcoming week of April 12, 2015

$EURUSD

What ProAct Forex Target Traders See:  We are currently sitting @ 1.0607 and back in the down trend.  We are looking for  the downside target at the S6 @ 1.0424 and possibly the 2.618 Fibo @ 1.0151. The average daily true range (ATR) for the pair currently is 134 pips.

 

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$USDJPY                                                                                                                   

What ProAct Forex Target Traders See:  We are currently @ 120.19 in a big channel but still ranging. Looking now for a move up above 120.74. If we get that, look to the R5 area @ 122.00. The average daily true range (ATR) for the pair currently is 83 pips

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$GBPUSD                                                                                                                   

What ProAct Forex Target Traders See:  Cable is currently sitting @ 1.4646 and we have broken the range.  We are looking to the 2.618 Fibo first @ 0.4504 with an overall target of the S6 @ 1.4362. The average daily true range (ATR) for the pair currently is 139 pips.

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

What ProAct Forex Target Traders See:  Aussie is @ 0.7682 in an ever widening range with a possible rising wedge in play (bearish). We are waiting to see if this bounce on the channel is for real or a small correction for a move down.  A couple of different scenarios:  1:  Bullish: a move to the upper day chart trend line @ 0.7781 area) and 2: Bearish: A break down to the support @ 0.7485. The average daily true range (ATR) for the pair currently is 94 pips.

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