Target Trading in the Forex week of April 15th, 2018

Note: USDX is non-committal.Be aware that that could change in a heartbeat and will affect the currencies below.ATR’s have increased slightly.

$EURUSD

What ProAct Traders See:Bullish: We are currently sitting @ 1.2338 in a range with divergence for an upside move. We are looking for a continuation to the upside to the square up @ 1.2459 and then a further move to 1.2559 top. The average daily true range (ATR) for the pair currently is 76 pips.

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$USDJPY

What ProAct Traders See: Bearish: We are currently @ 107.37 trying to make the turn to the downside. We have convergence to the downside so will be looking for a continuation to the 0.786 Fibo @ 105.73 and then a continuation to the range bottom @ 104.64. The average daily true range (ATR) for the pair currently is 79 pips.

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$GBPUSD

What ProAct Traders See:Bullish: Cable is currently sitting @ 1.4090 in a range.We are looking for a continuation to the range top @ 1.4361 and then to the 1.618 Fibo @ 1.4419. The average daily true range (ATR) for the pair is 97 pips.

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

What ProAct Traders See:Bullish: Aussie is @ 0.7769 in a large range for the pair and in a possible cup and handle pattern.We are watching for a continuation up to the cup top @ 0.7900 area and then to the 0.8033 area.The average daily true range (ATR) for the pair currently is 52 pips.

Posted to Introduction to Forex Tar... on Apr 14, 2018 — 9:04 AM

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