Blog | ProAct Traders

Target Trading in the Forex week of July 15th, 2018 EU UJ GU AU

Note: USDX is Bearish. We have divergence so looking for the break to the downside. We are looking for a move to the Range bottom @ 93.669 and a bounce there. Be aware that that could change in a heartbeat and will affect the currencies below. ATR’s have stayed the same.

$EURUSD

What ProAct Traders See: Bullish: We are currently sitting @ 1.1682 in a range and in a nice channel. We are looking to move to the top of the range this week @1.1850. The ATR for the the pair currently is 82 pips.

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$USDJPY

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EURNZD–Slope support break?

Bearish: Currently we are @107246 in a range. We just broke the Slope support here and we are looking for a continuation to the 0.382 Fibo @ 1.7130 area. Watch for a bounce here and then a possible continuation to the 0.500 Fibo @ 1.7070. The average daily true range (ATR) for the pair currently is 115 pips.

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AUDCHF–break?

Bearish: Currently we are @0.7348 in a range. If we can break the Slope support here, we are looking for a continuation to the range bottom @ 0.7274 area. Watch for a bounce here since it is the range bottom. The average daily true range (ATR) for the pair currently is 53 pips.

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EURNZD–continuation?

Bearish: Currently we are @1.7173 in a range and a channel. If we can break the support here, we are looking for a continuation to the 0.500 Fibo @ 1.7070 area. Watch for a bounce here since it is the 0.500 Fibo. The average daily true range (ATR) for the pair currently is 123 pips.

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EURJPY–Range Break?

Bullish: Currently we are @130.15 in a range that we are trying to break. If we can break the range resistance here, we are looking for a continuation to the 1.270 Fibo @ 130.69 and then 31.59 area. Watch for a turn here since we may actually be trending and that would finish a 3rd wave and start a 4th. The average daily true range (ATR) for the pair currently is 107 pips.

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Target Trading in the Forex week of July 8th, 2018 EU UJ GU AU

Note: USDX is Bearish. We expect a 5-wave pattern in our world (ABC in the big world) to 92.920. If we get a bounce at the 93.669 It may be doing a range. Be aware that that could change in a heartbeat and will affect the currencies below. ATR’s have dropped a little bit.

$EURUSD

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July Real Estate of the Month Trade Setup Idea

This month's ProAct Traders “Real estate of the month” (formerly the pay your mortgage trade) idea is found in the EURNZD pair.

06/04/18 1.7230 start

We took the first trade on the break of the rising wedge and are up 67 pips. This is a big box (range) and the target at the bottom is 1.6600 which means an opportunity for 716 Pips.

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USDJPY–Channel Break?

Bearish: Currently we are @110.69 in a range and just out of the channel. As we thought they USDX finished it’s 5th wave and now starting it’s move down. If we can break the 0.214 Fibo Support, we are looking for a continuation to the 0.500 Fibo @ 110.25. Watch for a 2 wave back up here. The average daily true range (ATR) for the pair currently is 67 pips.

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Results of our Real Estate of the Month Trade - June 2018

We only made 330 pips since the last wave turned into a box

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EURUSD–Range?

Bearish: Currently we are @1.1636 in a range. If we can break the 0.618 Fibo Support, we are looking for a continuation to the 0.786 Fibo @ 1.1582 and then to the 1.1550 support. The average daily true range (ATR) for the pair currently is 106 pips.

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