$EURUSD
What Forex Target Traders See: We are currently sitting @ 1.3032 just below the 0.382 Fibo. We are bullish and looking for the bounce around the .500 fibo. We should see a bounce there and then a continuation to the R5 @ 1.3183 (also the top). A breakdown would target the 0.786 fibo @ 1.2861. The average daily true range (ATR) for the pair currently is 98 pips.
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$USDJPY
What Forex Target Traders See: We are currently @ 79.31 after reaching the R4 target @ 79.50. We are building a rectangle pattern which is bullish for the pair. Should it break above the R4 look to the resistance @ 79.85. Above that – target the 1.618 fib extension @ 80.31. The average daily true range (ATR) for the pair currently is 44 pips.
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$GBPUSD
What Forex Target Traders See: Cable is currently @ 1.6006. We are in a large down trend. If we break the 1.5979 bottom the targets down are: S5/01.786 fibo @ 1.5929 then the support @ 1.5780. We should see some bounce on the 1.5979 support. The average daily true range (ATR) for the pair currently is 87 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
What Forex Target Traders See: Aussie is currently @ 1.0239 in an uptrend which is currently correcting. If we get a bounce at the R3 we will look for the R5 target this week @ 1.0525. A failure to bounce would target the double bottom @ 1.0146. The average daily true range (ATR) for the pair currently is 87 pips.
