$EURUSD
What Forex Target Traders See: We are currently sitting @ 1.3308. We could have a deeper retracement before the up move but staying a buyer above 1.3100 and looking to buy on dips if we find a bounce point. A break up targets the 1.3483 area. The average daily true range (ATR) for the pair currently is 100 pips.
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$USDJPY
What Forex Target Traders See: We are currently @ 90.09 and looking for a top around the R5 90.60 area. Several possibilities – a sideways move would stabilize the up move for a continuation of wave 5. We could use a pullback here and if so look for a bounce around the 89.25 area. The average daily true range (ATR) for the pair currently is 86 pips.
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$GBPUSD
What Forex Target Traders See: Cable is currently @ 1.5844 finshing a correction. Expect as bounce on the day chart trend line @ 1.5835 and then we’ll see if the bulls can take over. A Break up targets the R5 1.6212 area. A Break down below 1.5800 targets the support @ 1.5649 area. The average daily true range (ATR) for the pair currently is 104 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
What Forex Target Traders See: Aussie is currently @ 1.0536. We have a nice correction underway and looking to continue the uptrend after this pullback probably at the .500 fibo @ 1.0472 area. We are looking for a move first to the day chart top @ 1.0610 and then the1.270 Fib extension @ 1.0668. Don’t rule out the breakout to the downside which targets the 1.0399. The average daily true range (ATR) for the pair currently is 62 pips.