WHAT Forex Target Traders SEE: We are currently sitting @ 1.3270. We are looking to become bearish from here. The EURUSD is in a sideways move on the day chart and there are much better opportunities in other crosses. The initial downside targets are the 0.382 Fibo @ 1.3183 to 0.618 Fibo @ 1.3114. The average daily trading range for the cross currently is 112 pips.
WHAT Forex Target Traders SEE: We are currently @ 82.34 and pulling back from the 84.22 top. We are looking for the cross to find it’s bottom and so favor waiting for the dip before trading the cross. We have broken the day chart trend line and so we are looking for the support points. The 0.382 Fibo @ 81.09 is the likely candidate. The average daily trading range for the cross currently is 81 pips.
WHAT Forex Target Traders SEE: Cable is currently @ 1.5869 in a very large sideways move on the day chart. A breakdown here initially targets the S3@ 1.5784 area. A break below that and look for the 0.500 Fibo @ 1.5784 / 0.500 Fibo @ 1.5764. The bottom may very well be the 0.618 Fibo @1.5698. The average daily trading range for the cross currently is 108 pips.
$AUDUSD – A great smooth currency for Newbie’s!
WHAT Forex Target Traders SEE: We are currently @ 1.04167 after bouncing on the day chart support @ 1.0389. The cross is in a very strong down trend and we expect continuation this week to the S6 @ 1.0249 and maybe the bottom @ 1.0145. Watch the 1.0296 (0.786 Fibo) for the bounce also. The average daily trading range for the cross currently is 117 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.