Target Trading in the Forex upcoming week of March 3rd ,2013

$EURUSD

What Forex Target Traders See:  We are currently sitting @ 1.3018 after testing  the psychological 1.3000 to the downside. We are looking for a small pullback and then a continuation to the wave 3 S6 support @ 1.2913  at the least and a bounce is possible there.   The down target on a continuation is the bottom @ 1.2718.  The average daily true range (ATR) for the pair currently is 112 pips. 

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$USDJPY                                                                                                                   

What Forex Target Traders See:  We are currently @ 93.60.   We are looking for the market to finish the correction up at or near 94.00 and then going short to the support @ 89.76 and maybe to the 0.786 Fibo @ 89.49.  The average daily true range (ATR) for the pair currently is 119 pips.

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$GBPUSD                                                                                                                   

What Forex Target Traders See:  Cable is currently @ 1.5018.  We have moved off  the down Trend Line  and looking for a short bounce back to the trend line before resumption to the 1.4900 area ( wave 5 S7 and 1.618  Fib extension).  A break here targets the 1.4750 area. The average daily true range (ATR) for the pair currently is 121 pips.

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

What Forex Target Traders See:  Aussie is currently @ 1.0193 –having a tough time with the -0.270 Fibo.  We have a well-built day chart (pink) and 240 chart (blue) in a downtrend and that immediate target is currently the S4 @ 1.0145 area. Expecting a break here and the overall target is the 1000 area.  The average daily true range (ATR) for the pair currently is 74 pips.

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Tags: Exchange, Fibonacci, Foreign, Forex, Live, Market, Strategies, analysis, audusd, eurusd, More…forex, gbpusd, live, room, signals., software, technical, trading, usdjpy

Comment by Forex Pro on March 2, 2013 at 7:00pm

Thanks for your analysis. Great one as always...

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