Target Trading in the Forex week of July 17th,, 2016 EU,UJ,GU,AU

$EURUSD

What ProAct Forex Target Traders See: We are currently sitting @ 1.1069 in an extremely narrow range. We are looking for a break down to the Range bottom @ 1.0971 and a possible bounce there. If the range is bigger look for a move to 1.0837. The average daily true range (ATR) for the pair currently is 82 pips.

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$USDJPY

What ProAct Forex Target Traders See: We are currently @ 105.45 and we have divergence. We are looking for a continuation to the 0.500 Fibo @ 103.20 and a possible continuation to the 0.786 Fibo @ 101.37. The average daily true range (ATR) for the pair currently is 123 pips.

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$GBPUSD

What ProAct Forex Target Traders See: Cable is currently @ 1.3220 and in a large rectangle which is bearish for the pair. We are going to see what a rate hike and Brexit is going to produce. We are looking for a continuation to the 0.500 Fibo @ 1.3080 and then we will see. A bounce to the range top or a breakdown to the range bottom. The average daily true range (ATR) for the pair currently is 205 pips.

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

What ProAct Forex Target Traders See: Aussie is @ 0.7598 and breaking out of a rising wedge with divergence. We are looking for a move to the 0.500 Fibo @ 0.7466 and then a move to the range bottom @ 0.7375. The average daily true range (ATR) for the pair currently is 81 pips.

Posted to Introduction to Forex Targe… on Jul 16, 2016 — 11:07 AM
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