Target Trading in the Forex upcoming week of May 17, 2015

$EURUSD

What ProAct Forex Target Traders See:  We are currently sitting @ 1.1448. We are looking finish a 5th  wave at the R7 resistance @ 1.1651-92 and we should see a reversal there. The average daily true range (ATR) for the pair currently is 146 pips.

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$USDJPY                                                                                                                   

What ProAct Forex Target Traders See:  We are currently @ 119.33 but still ranging. Looking now to finish the down move @ 118.60.  The average daily true range (ATR) for the pair currently is 73 pips.

 

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$GBPUSD                                                                                                                   

What ProAct Forex Target Traders See:  Cable is currently sitting @ 1.5736. We are waiting to finish the 5th wave to the 1.270 Fibo @ 1.5905 and then a reversal.   The average daily true range (ATR) for the pair currently is 164 pips.

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

What ProAct Forex Target Traders See:  Aussie is @ 0.8040.  We are waiting to see if this is the top of the 5th wave or still a move higher to the 0.8300????  If the top is in- look to the downside back to 0.7800.  The average daily true range (ATR) for the pair currently is 123 pips.

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