$EURUSD
WHAT Forex Target Traders SEE: We are currently sitting @ 1.3175. We are treating this last move as a pullback which may top out @1.3200. We are looking to become bearish from her all the way to 1.3300 if it were to go that high. The initial downside targets are the S5 @ 1.3144 to support @ 1.3033. The average daily trading range for the cross currently is 127 pips.
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$USDJPY
WHAT Forex Target Traders SEE: We are currently @ 83.44 and pulling back for the 84.18 top. The high of 85.50 ( set 06/04/11) is the upper target once we get through the pullback. We favor waiting for the dip before trading the cross. We are in a very a strong trending market so looking for the support points Any of the fibs could be it but we like the .500 with the former trend top as the likely candidate. The average daily trading range for the cross currently is 87 pips.
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$GBPUSD
WHAT Forex Target Traders SEE: Cable is currently @ 1.5845 in a very large sideways move. We may have one more push to the 1.5884 top but expect the cross to start getting bearish anytime. Be aware that we could have a small pullback to the 1.5800 or a sideways move and then a short last wave to finish the top before getting bearish. A breakdown here initially targets the S4@ 1.5759 area. A break below that and look for the 1.5650 bottom. The average daily trading range for the cross currently is 123 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
WHAT Forex Target Traders SEE: We are currently @ 1.0590 after breaking the downtrend to the upside. The day chart indicates however that a bounce here could be the start of a 5th wave with a lot of huge potential upside all the way to the 1.0800 ( also the R5). Currently the trend is too steep to make that so expect a sideways or small pullback to set a good bottom trend wall. A failure here signals a move back to the bottom @ 1.044. We are currently bullish. The average daily trading range for the cross currently is 108 pips.
