$EURUSD
What Forex Target Traders See: We are currently sitting @ 1.3016 just below the .618 Fibo in a 5 wave move down. We are waiting to see if we get a bounce on the day chart trend line or bottom 1.2952-1.2975 back to the top of the trend and then we will see. A breakout look to the 0.382 Fibo @ 1.3183 and a break down look to the S6 @ 1.2806. The average (14 day) daily true range (ATR) for the pair currently is 101 pips.
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$USDJPY
What Forex Target Traders See: We are currently @ 99.19 in a rising wedge which is ultimately bearish for the pair but will take a while. Should we see a move all the way to the top of the wedge @ the R5 @ 100.63. Dips will give a great opportunity on the way. average (14 day) daily true range (ATR) for the pair currently is 165 pips.
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$GBPUSD
What Forex Target Traders See: Cable is currently @ 1.5210 just above the day chart up trend. The recent move however indicates a 4th wave correction and then a move to the 5th wave @ 1.5000. Watch 1.5100 as another bounce point. The average (14 day) daily true range (ATR) for the pair currently is 123 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
What Forex Target Traders See: Aussie is currently @ 0.9144 on the 0.500 fibo and a big support cluster. If we assume the wave count starts @ 0.9779 then the 5th wave is still below. Look to the S8 9 `1 y chart bottom @ 0.8809 as the target but don’t look for a straight shot sell on the rallies. The average (14 day) daily true range (ATR) for the pair currently is 142 pips.
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