$EURUSD
WHAT Forex Target Traders SEE: We are currently sitting @ 1.3465. Currently finishing off a third wave so expect the cross to pullback or go sideways before continuing to the upside. There is still lots of room to the upside but 1.3550 should stall it. Looking to break to at least the 1.270 Fib extension @ 1.3691 and target the 2.618 Fib extension next @ 1.3807. We are bullish so like buying on the dips. The average daily trading range for the cross currently is 129 pips.
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$USDJPY
WHAT Forex Target Traders SEE: Finally the cross is back. We are currently @ 81.01 after a strong trending market. We have had a strong move so although long term we are bullish should sell a sell off this week or a sideways move before resumption to the top. The R5 Target @ 79.82 may be the bounce point on the pullback then the target is 83.10 ( 1.270 Fibo and resistance). Any downside move should be viewed as an opportunity to buy on the dips. The average daily trading range for the cross currently is 108 pips.
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$GBPUSD
WHAT Forex Target Traders SEE: Cable is currently @ 1.5899 after breaking out of the big Bull flag. We should see a run at the -0.270 Fibo in the 1.6000 area. A break to the upside targets the R7 @ 1.6224 area but there is a top in place @ the 1.6172 area (10/30/2011). We are bullish. The average daily trading range for the cross currently is 177 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
WHAT Forex Target Traders SEE: We are currently @ 1.0694 after the pullback. There is room initially to the -0.270 Fibo @1.1030 resistance after the break of the flag. A break above targets the R8 @ 1.1267. The average daily trading range for the cross currently is 65 pips.
