$EURUSD
What Forex Target Traders See: We are currently sitting @ 1.2927 after a bounce on the .500 fibo. Expecting a bounce and then continuation to the downside first to the support @ 1.2869. We are bearish below 1.3000 and waiting for the pullback to finish. A break of the .618 Fibo and we should see downward traction to the confluence of the S5 and .86 Fibo @ 1.2750 area. The average daily true range (ATR) for the pair currently is 74 pips.
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$USDJPY
What Forex Target Traders See: We are currently @ 82.40 in a rectangle pattern which suggests upward continuation We are bullish above 81.00. Looking to move first to the double top @ 84.20 and MAYBE the R5 resistance @ 85.71 as the target. The average daily true range (ATR) for the pair currently is 55 pips.
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$GBPUSD
What Forex Target Traders See: Cable is currently @ 1.6036. We have broken the uptrend and are now positioning for a shallow run ( ATR has reduced from 90 down to 58) to the downside. Expect another pullback first. The targets down are: S3/618 Fibo @ 1.5986, Then support @ 1.5917. . The average daily true range (ATR) for the pair currently is 58 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
What Forex Target Traders See: Aussie is currently @ 1.0487. We have two tops to worry about: 1.0521 and 1.0589. At any rate we are in the 5th wave and either top could create the reversal and get in line with the EU and GU. If we top out at 1.0521 we will look for the S3 target this week @ 1.0376. The average daily true range (ATR) for the pair currently is 58 pips.
