$EURUSD
What Forex Target Traders See: We are currently sitting @ 1.3180 after breaking the day chart trend line to the downside. We are looking for a continuation to the S6 support @ 1.3090 at the least and a bounce is possible there. Be aware that they may bounce it now back to the day chart trend and then go from there. The down target on a continuation is the bottom @ 1.3000. The average daily true range (ATR) for the pair currently is 114 pips.
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$USDJPY
What Forex Target Traders See: We are currently @ 93.41. A couple of different scenarios. 1: bull channel: a bounce here for a double top @ 94.95. 2: A break of the head and shoulders neckline would trigger shorts to at least the support @ 92.20 or lower @ the 0.618 Fibo to 91.82 3: a rang trade is it goes sideways . The average daily true range (ATR) for the pair currently is 111 pips.
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$GBPUSD
What Forex Target Traders See: Cable is currently @ 1.5241. We have moved to the down Trend Line and there are two possibilities before we get the correction or reversal north. 1: A break of the bear flag to 1.5100 2: a failure to go to the 1.5100 on a break sets up the left shoulder and head of a head and shoulders back to the minor support @ 1.5437. The average daily true range (ATR) for the pair currently is 123 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
What Forex Target Traders See: Aussie is currently @ 1.0321 –virtually where we started last week. We do well built downtrend of the trend line and that target is currently the 4.236 Fibo extension @ 1.0110 area . We are also in a large box which would play out to the day chart bottom @ 1.0148. The target on a failure to continue down would be up to the S3 @ 1.0456. Better play is the short or a continuation to the S6 @ 1.000. The average daily true range (ATR) for the pair currently is 76 pips.
Comment by Forex Pro on February 23, 2013 at 9:21pm Good analysis. I am looking GU to recover next week with AU targeting 1.04 zone, EUR likely to touch 1.30 ...thanks for your analysis really helpful mate!
Comment by Scott Barkley on February 23, 2013 at 9:31pm Have a great weekend
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