Target Trading in the Forex upcoming week of April 27, 2015

$EURUSD

What ProAct Forex Target Traders See:  We are currently sitting @ 1.0868 after a trend break out to the upside but still inside the pennant.  We are in a looking to break the pennant but stay in a channel for the upside target initially at @ 1.1109-1.1131.  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 @ 118.87 but still ranging. Looking now for a move down to support @ 117.94. If we get that, look to the S5 area @ 116.09. The average daily true range (ATR) for the pair currently is 82 pips.

 

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$GBPUSD                                                                                                                   

What ProAct Forex Target Traders See:  Cable is currently sitting @ 1.5180 in wave 3 which should continue to the 1.5350 area before the pullback.  The 3rd wave can never be the shortest wave and wave 1 was a nice mover.   The average daily true range (ATR) for the pair currently is 145 pips.

 

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

What ProAct Forex Target Traders See:  Aussie is @ 0.7826 in breakout that does not yet have sure footing.  We are waiting to see if this new trend will hold for a move up to the Confluence area @ 0.7921 with an overall target @ 0.8072.  The average daily true range (ATR) for the pair currently is 102 pips.

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