What Forex Target Traders See
: We are currently sitting at 1.2996 in a wedge from the day chart. We are waiting. A couple of different scenarios. 1: bullish: a move above the upper day chart trend line at 1.3060 area) and break out we will look to the R5 at 1.3172-84. 2: Bearish : A break down here or at the 1.2996 area would set up a nice move to the day chart bottom at 1.2748 and maybe extend to the1.2657. The average (14 day) daily true range (ATR) for the pair currently is 100 pips.
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USD/JPY
What Forex Target Traders See: We are currently at 100.47 in a descending wedge which is bearish. Should see a break to the 100.00 area (0.786 Fibo, wave one S5) and a break here we will look to the R6 at 89.78 for the square up. The average (14 day) daily true range (ATR) for the pair currently is 92 pips.
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GBP/USD
What Forex Target Traders See: Cable is currently at 1.5193. Look to the short side even with a higher correction to the resistance (+.500 Fibo) at 1.5320 and then back to the bottom. The average (14 day) daily true range (ATR) for the pair currently is 99 pips.
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AUD/USD – A great smooth currency for Newbie’s!
What Forex Target Traders See: Aussie is currently at 0.970 in a bearish wedge. Expecting a break to the downside to the 1.270 fibo at 0.9457 and then another thrust down to the S7 target at 0.9398 area. The average (14 day) daily true range (ATR) for the pair currently is 76 pips. 
