Target Trading in the Forex upcoming week of April 22 ,2012

$EURUSD

What ProAct Forex Target Traders See:  We are currently sitting @ 1.3210 and the former high set April 11, 2012.  Reality is that we are in a big sideways move on the day chart.  We are bearish as long as we are under the 0.618 Fibo @ 1.3236 ( a break of that confirms the long).  The initial downside targets are the 0.500 Fibo @ 1.3110 and then the 0.786 Fibo @ 1.3044.  A break north targets the -0.270 Fib Extension@ 1.3286.  Bottom line is we need confirmation of either move at this critical spot.  The average daily true range (ATR) for the cross currently is 108 pips.

——————————————————————————–

$USDJPY                                       

What ProAct Forex Target Traders See:  We are currently @ 81.56 and just above the Downtrend top channel which is bullish.  The cross could go either way but the break up appears to be on a bullish path. Targets ups are the R4 @ 82.72 the R5 @ 85.16.  Targets down might be a return to the R1/.786 fibo @ 80.94 and then the 80.31 bottom.  The average daily true range (ATR) for the cross currently is 52 pips.

 

——————————————————————————–

$GBPUSD

What ProAct Forex Target Traders See:  Cable is currently @ 1.6120 just below the top @ 1.6164.  We also have a rising wedge which is bearish for the cross.  A breakdown from the top targets the 0.500 Fibo @ 1.5986.  and further bearish move would target the S4 @ 1.5931.  A break above 1.6164,  look to the -0.270 fib Extension @ 1.6260.   .  The average daily true range (ATR) for the cross currently is 104 pips.

 

——————————————————————————–

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

What ProAct Forex Target Traders See:  We are currently @ 1.0369 in a very nicely built downtrend.  We are building a nice descending wedge currently for the break below the S3 to the S4 @ 1.0275 to targets below.  As long as we are below 1.400 we are bearish on the cross.  A break of S4, look to the S5 @ 1.0079. The average daily true range (ATR) for the cross currently is 94 pips.

 

Forex Trading Software and Live Forex Trade Room

Views: 126

Tags: Exchange, Foreign, Forex, Market, Strategies, analysis, audusd, eurusd, forex, gbpusd, More…live, signals., software, technical, trading, usdjpy

Comment by anthony on April 21, 2012 at 1:16pm

where do i sell gbp/usd on rally?

Comment by Scott Barkley on April 21, 2012 at 1:22pm

IF IF IF it tops out at 1.6160.  Need to be sure it is the top first.

Comment

You need to be a member of Forex Social Network to add comments!

Members

Join us on Facebook Now!!!

Hi everyone

This website was closed June 2nd 2015.

Please, join us now at Facebook where you can keep sharing your thoughts about Forex with our community of traders:

https://www.facebook.com/superfxnews

OVER 2,500 READERS!!!!

© 2015   Created by FXStreet.

Badges  |  Report an Issue  |  Terms of Service

Offline

Live Video