Target Trading in the Forex week of March 4th, 2018

Note: USDX is out of a rising wedge and falling which affects the major currencies.

$EURUSD

What ProAct Traders See:Bullish: We are currently sitting @ 1.2331 after bouncing on the bottom of the range.We are looking for a continuation to the range top @ 1.2538 after either a flag pattern or a retracement.The average daily true range (ATR) for the pair currently is 95 pips.

————————————————————————--

$USDJPY

What ProAct Traders See: Bearish: We are currently @ 105.54 in a channel. We are looking for a sideways move and then a continuation to the 1.618 Fibo @ 104.03 Overall, if the USDX stays moving down we could get to the 2.270 Fibo @ 102.74. The average daily true range (ATR) for the pair currently is 88 pips.

——————————————————————————–

$GBPUSD

What ProAct Traders See:Bullish: Cable is currently sitting @ 1.3970 in a large wedge but in a possible 5th wave up in the Day chart world.We are looking for a continuation to the three square up areas (1.4028-1.4210) and then off to the top near 1.4500. The average daily true range (ATR) for the pair is 121 pips.

——————————————————————————–

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

What ProAct Traders See:Bullish: Aussie is @ 0.7820 in a channel in a range.We could have one more move down before the reversal and then expect a continuation to the 0.214Fibo@ 0.8002 area.The average daily true range (ATR) for the pair currently is 72 pips.

Posted to Introduction to Forex Tar... on Mar 02, 2018 — 5:03 PM
Comments ({[comments.length]})
Sort By:
Loading Comments
No comments. Break the ice and be the first!
Error loading comments Click here to retry
No comments found matching this filter
  • {[comment.author.username]} — Marketfy Staff — Maven — Member
Want to add a comment? Take me to the new comment box!