Target Trading in the Forex upcoming week of November 17th,2013

$EURUSD

What Forex Target Traders See:  We are currently sitting @ 1.3490. The pair is working a correction in a  big downtrend which could bottom  out below 1.3250.  We are looking to complete the  pullback around 1.3540 before a movement to the 3rd wave S4 @ 1.3266.  The average daily true range (ATR) for the pair currently is 104 pips.

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$USDJPY                                                                                                                   

What Forex Target Traders See:  We are currently @ 100.23   out of  the  wedge.  We are testing a Break to the upside and looking for the buy above 100.73 with the 1.270  Fibo @ 101.69 as the target.  The average (14 day) daily true range (ATR) for the pair currently is 74 pips.

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$GBPUSD                                                                                                                   

What Forex Target Traders See:  Cable is currently @ 1.6112.  We expect a move to the R5 @ 1.6231 ( also a top)  and a pullback there. The average (14 day) daily true range (ATR) for the pair currently is 107 pips. 

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

What Forex Target Traders See:  Aussie is currently @ 0.9362 in a bear flag.   We are looking for the S4/S5 confluence area @ 0.9150 as the initial target and a pullback there.  Overall we are looking for the 0.9100 support area. The average daily true range (ATR) for the pair currently is 83 pips.

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

Comment by Forex Pro on November 16, 2013 at 3:49pm

I always like your analysis ...really good and easy for new traders like me.. many thanks

Comment by Daologic on November 18, 2013 at 2:34pm

A realy great analisys!

Thanks for your time Scott!

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