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.
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.
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.
$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.