What ProAct Forex Target Traders See: We are currently sitting @ 1.2241 just under the .618 Fibo. It is our view that the last up move on Friday was a corrective move and that the targets below are still the objective and a move above the 214 Fibo @ 1.2351 would invalidate that position. A breakdown will target a move back to the double bottom @ 1.2162 and then the two targets are the 1.2147 bottom and below that the S6 @ 1.2085. The average daily true range (ATR) for the pair currently is 106 pips.
What ProAct Forex Target Traders See: We are currently @ 79.26 just above the .500 fibo @ 79.17 in a sideways choppy move. A break of this will confirm the move to the S4 @ 79.28. A breakdown there look for the double bottom @ 77.67. The average daily true range (ATR) for the pair currently is 50 pips.
What ProAct Forex Target Traders See: Cable is currently @ 1.5575 after breaking above the up-trend line. We expect a rally to the.382 Fibo @ 1.5595 and then a move back to the S5 @ 1.5400. A break up would target the 1.5700. The average daily true range (ATR) for the pair currently is 104 pips.
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What ProAct Forex Target Traders See: We are currently @ 1.0223 after breaking the Day chart trend line @ 1.0162 indicating that the pair will continue the uptrend. Watch for this to also be a false breakout due to pressure on the USDX. Looking for a continuation to the R6 @ 1.0441. A false breakout would move the pair back into the day chart trend and target the R4/0.786 Fibo @ 1.0067. The average daily true range (ATR) for the pair currently is 102 pips.
CAUTION IS URGED - TRADE WITH STOPS!!!!!
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There is No “Holy Grail” in Forex trading systems. Do not use our research or any other trading system without proper research on the asset.
This is an opinion ONLY - and not a trade call, but a study that may lead you to a trade. I do not know whether this will transpire or not so use your own judgment.