Target Trading in the Forex upcoming week of April 5, 2015

$EURUSD

What ProAct Forex Target Traders See:  We are currently sitting @ 1.0998.  Although the overall picture still suggests more downward movement, we are out of the established trend.  Until the direction can be proven expect a sideways move.  The upside target is the 1.1214 area while the downside target is the S5@ 1.0714. The average daily true range (ATR) for the pair currently is 180 pips.

 

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$USDJPY                                                                                                                   

What ProAct Forex Target Traders See:  We are currently @ 118.87 in a big pennant. We need to see if NFP reaction will continue down since we are at a bounce point. Looking now for a corrective move up. If we get the bounce, look to the Day top @ 121.79.  A down move look to range to @ 117.00.  The average daily true range (ATR) for the pair currently is 95 pips

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$GBPUSD                                                                                                                   

What ProAct Forex Target Traders See:  Cable is currently sitting @ 1.4912.  We are also in a pennant so waiting to see it this new trend may be real.  If we do get a break north we are looking to the R6 Resistance @ 1.55246 – a break down suggests some rage trading is in store.  The average daily true range (ATR) for the pair currently is 185 pips.

 

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

What ProAct Forex Target Traders See:  Aussie is @ 0.7635 in an ever widening range. We are looking for a shallow correction and then maybe a move back to the bottom BUT, the range could just as easily go back up to the 0.7924+ area.  If we get a downside continuation look for a move to the support areas @ 0.7485 and 0.7406.  The average daily true range (ATR) for the pair currently is 117 pips.

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