Forex Strategies: Bullish for now: We are currently @ 1.3656 in a bull flag (Bullish). After the ABC we are looking for a continuation to the S5 @ 1.3357. This could also be a pennant ( Bearish). If USDX resumes down watch for a breakout. Up Target is day chart top @ 1.3850. Down: Target is the R2 @ 1.3260. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 98 pips and it 90-day average is 72 pips.
DISCLAIMER: Trading in the Foreign Exchange market involves a significant and substantial risk of loss and may not be suitable for everyone. You should carefully consider whether trading is suitable for you in light of your age, income, personal circumstances, trading knowledge, and financial resources. Only true discretionary income should be used for trading in the Foreign Exchange market. Any opinion, market analysis or other information of any kind contained on our website, blog, voiced as an opinion in a live training room or posted anywhere in the internet world is subject to change at any time. Nothing in this website or live training room should be construed as a solicitation to trade in the Foreign Exchange market. If you are considering trading in the Foreign Exchange market before you trade make sure you understand how the spot market operates, be thoroughly familiar with the operation of and the limitations of your trading system, charts and brokers platform on which you are going to trade.
Read more on proacttraders.com
