Note: Currently USDX is bearish – affects the direction below
The August “Pay Your Mortgage Trade Idea” is the CAD/JPY
EUR/USD
What ProAct Forex Target Traders See: We are currently sitting at 1.1764 after completing a 4th wave. We are looking to continue up in a 5th wave to the R5 at 1.2038. The average daily true range (ATR) for the pair currently is 82 pips.
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USD/JPY
What ProAct Forex Target Traders See: We are currently sitting at 109.16 after completing a 4th wave. We are looking to continue in a 5th wave to the S5 at 107.19. The average daily true range (ATR) for the pair currently is 81 pips.
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GBP/USD
What ProAct Forex Target Traders See: We are currently sitting at 1.2876 in a bearish channel in a range. We are looking to continue down to the Day chart bottom at 1.2594. The average daily true range (ATR) for the pair currently is 79 pips.
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AUD/USD – A great smooth currency for Newbie’s
What ProAct Forex Target Traders See: We are currently sitting at 0.7933 after completing a 4thwave. We are looking initially for a move to the R5 at 0.8190. The average daily true range (ATR) for the pair currently is 66 pips.