Target Trading in the Forex week of June 10th, 2018 EU UJ GU AU

Note: USDX is barely BULLISH (for now) but still in the down channel and could be starting a 5th wave down. Be aware that that could change in a heartbeat and will affect the currencies below. ATR’s have increased but not by much.

$EURUSD

What ProAct Traders See: Bullish: We are currently sitting @ 1.1767 and could have one more move to the downside to bounce on the channel.We in a range and are looking for a finish at the Square up @ 1.1910 and then a bounce to the square up @ 1.1920.A move below 1.1724 would signal a continuation to the 1.1650 area. The average daily true range (ATR) for the pair currently is 95 pips.

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$USDJPY

What ProAct Traders See: Bearish: We are currently sitting @ 109.45 in a 3rd wave. We are looking to break this support and continue the move to the 0.618 Fibo @ 107.25.The average daily true range (ATR) for the pair currently is 77 pips.

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$GBPUSD

What ProAct Traders See:Bullish: We are currently sitting @ 1.3406 in a range and have bounced at the day chart support.We have already made the turn and are anticipating a move up. A continuation here would set up move to the 0.618 Fibo @ 1.3648.The average daily true range (ATR) for the pair is 91 pips.

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$AUDUSD – A great smooth currency for Newbie’s!

What ProAct Traders See:Bullish: We are currently sitting @ 0.7598 in a range and in a Darvas box which is also bullish. A break up here would set up move to the square up @ 0.7763. A break of support @ 0.7566 would signal a move to the 0.786 Fibo @ 0.7498. The average daily true range (ATR) for the pair currently is 62 pips.

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Posted to Introduction to Forex Tar... on Jun 09, 2018 — 9:06 AM

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