Target Trading in the Forex week of March 25th, 2018
|Note: USDX is in a Sideways move and close to the bottom – watch for a bounce or breakout. Be aware that that could change in a heartbeat and will affect the currencies below. ATR’s are still dropping.
$EURUSD
What ProAct Traders See: Bearish: We are currently sitting @ 1.2365 in a symmetrical triangle. We have divergence for the downside move so are looking for a continuation to the 0.618 Fibo @ 1.1953 and then a bounce and further move to 1.1789. The average daily true range (ATR) for the pair currently is 81 pips.
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$USDJPY
What ProAct Traders See: Waiting: We are currently @ 104.96 in a range. We have divergence for the upside move so are cautiously awaiting the start of a bullish move but could have one more move to the downside before that happens. We will be looking for a continuation to the 0.500 Fibo @ 106.46. The average daily true range (ATR) for the pair currently is 72 pips.
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$GBPUSD
What ProAct Traders See: Bearish: Cable is currently sitting @ 1.4139 in a range. We are looking for a reversal and then a continuation to the 0.786 Fibo @ 1.3850. The average daily true range (ATR) for the pair is 97 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
What ProAct Traders See: Bearish: Aussie is @ 0.7702 in a large channel in a range. We are watching for a continuation down to the Day support@ 0.7500 area. The average daily true range (ATR) for the pair currently is 59 pips.
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