$EURUSD
WHAT Forex Target Traders SEE: We are currently sitting @ 1.3405 just under the .618 Fibo. We have a big bear flag on the cross indicating further downside is possible. The day chart bottom is @ 1.3207 so may reach out to there. If we get a bounce it should happen around 1.3360 and then go back to the S6 @ 1.3645. Tough to tell on this one since the fall off the top just happened Friday. We are still bearish – for now. The average daily trading range for the cross currently is 160 pips.
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$USDJPY
WHAT Forex Target Traders SEE: We are currently @ 77.99 and may finally be on the start of the up move. Currently on the .500 Fibo. A break of the R3 @ 78.00/78.06 would signal a continuation to the R4 @ 78.90 with an interim stop @ the .382 Fibo @ 78.41 then the 79.00. The average daily trading range for the cross currently is 57 pips.
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$GBPUSD
WHAT Forex Target Traders SEE: We are currently @ 1.5601 with a conflict in potential trends showing on the chart. A bounce here would help confirm that the uptrend is in place and a break here confirms the downtrend. A breakdown will target the double bottom @ 1.5423. The bounce would target a move back to the S4 @ 1.5935 . The average daily trading range for the cross currently is 147 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
WHAT Forex Target Traders SEE: We are currently @ 1.0213 after repeatedly trying to take out the R6 target . We have a rectangle that is forming on the 240 min chart indicating further upside movement. This may go sideways to the Trendline. The next down target is the .382 Fibo @ 1.0073 (near the R5) and that may be the bounce point. The target up is the R7 (look for a reversal there) @ 1.0648 – watch the -.270 Fib Extension @ 1.0s506. The average daily trading range for the cross currently is 191 pips.
