What Forex Target Traders See
: We are currently sitting at 1.2935 after a strong bounce off the day chart trend line. We are tentatively bullish but waiting. A couple of different scenarios. 1: bullish: a move to the upper day chart trend line at 1.2996 area) and break out we will look to the R5 at 1.3172. 2: Bearish : A break down here or at the 1.2996 area would set up a nice wave to the day chart bottom at 1.2748. The average (14 day) daily true range (ATR) for the pair currently is 106 pips.
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USD/JPY
What Forex Target Traders See: We are currently at 101.10 and finishing a nice correction. Should see a bounce at the 100.50 area ( .618 Fibo, Trend line and support) and if so we will look to the R7 at 105.71 in the 5th wave. A breakdown here and will look to the 98.78 area. The average (14 day) daily true range (ATR) for the pair currently is 124 pips.
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GBP/USD
What Forex Target Traders See: Cable is currently at 1.5127 in a nice downside channel but stuck in a wedge. Look to the short side even with a higher correction to the S6 at 1.5005 and then 1.4947 to finish the down move. The average (14 day) daily true range (ATR) for the pair currently is 124 pips.
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AUD/USD – A great smooth currency for Newbie’s!
What Forex Target Traders See: Aussie is currently at 0.9653 after bouncing on the day chart bottom at 0.9583. Expecting a pullback to the upside to complete wave 4 at 0.9927 ( 1.270 fibo) 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 118 pips. 
