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Sunday, January 5, 2014

TARGET TRADING: WEEKLY OUTLOOK

What Forex Target Traders See: We are currently sitting at 1.3599. The pair has broken the uptrend and the break of the significant supports confirms the move to the downside. We are looking for a bearish movement below 1.3600 to the 0.786 Fibo at 1.3487. The average daily true range (ATR) for the pair has dropped and is currently is 70 pips.

USD/JPY 
What Forex Target Traders See: We are currently at 104.66 and in a continuation to the upside. We are looking for a move to the R5 at 105.39 then a possible pullback for more upside to the 106.30 area. The average (14 day) daily true range (ATR) for the pair currently is 86 pips.

GBP/USD 
What Forex Target Traders See: Cable is currently at 1.6422. We expect a corrective move to the 0.214 Fibo at 1.6360 with an overall target of the R6 at 1.6670 area. The average (14 day) daily true range (ATR) for the pair currently is 91 pips.

AUD/USD – A great smooth currency for Newbie’s!
What Forex Target Traders See: Aussie is currently at 0.8974 after a bounce and break of the down trend. We are looking for a bullish move to the S5 at 0.9066. We will reassess then if this is a correction of a full-fledged uptrend. The average daily true range (ATR) for the pair currently is 95 pips.
EUR/USD 240 Min Chart
EUR/USD 240 Min Chart

USD/JPY 240 Min Chart
USD/JPY 240 Min Chart
GBP/USD 240 Min Chart
GBP/USD 240 Min Chart
AUD/USD 240 Min Chart
AUD/USD 240 Min Chart

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