JB_FMO

JB_FMO

Really boring consolidation last week as we see a very weak Phase 2 movement Look out for an exhaustion candle move up this week and if price stays below 0.6850-60 then there is a potential for a Phase 1 move back to the downside A move above the level could signal that the weekly chart has bottomed out. Interesting to note that the Pre-Election seasonal cycle...

JB_FMO

Following the brief sell off the week before, sellers dipped their toes towards 1.2000 and failed Buyers spent all last week slowly pushing though and break through two levels (marked Resistance Level 1 and 2 on the chart). Seasonal wise, we have approached a point where the weighted and all-time seasonal trends diverge Given how oversold GBP is on all the...

JB_FMO

Buyers made a break for it early last week following a period of consolidation Looking across the major charts, the move up is more to do with EUR weakness rather than dollar strength Expect a continuation to the upside with the EURUSD and possibly USDCHF charts as the best ways to buy dollar Should price break the August Swing High then look to target the Monthly R1 Pivot

JB_FMO

AUD outperforms NZD till the end of the month RBNZ have taken a more dovish stance compared to RBA Price has bounced off strong weekly support With the seasonals, fundamentals and technicals all lining up, look for a bounce off the 4HR 20 EMA (1.4065 level) before another potential push to the upside

JB_FMO

Following a 1000 + pips move up, we are finally seeing price pulling back. Should price stay below 1.7390, then look for a formation of a lower high on the 4HR before a push down. Any potential move down should be treated as a Daily Phase 2.

JB_FMO

We finally saw the turnaround and Daily Phase 2 after a big move by buyers in the last two weeks. There is a potential H&S forming on the 4HR. Look for a sell trade should price stay below 1.6570

JB_FMO

Sellers kept a tight grip on price last week. I would expect more downfall on this pair and there will be cleaner opportunities on the crosses. Next key support level is 104.65.

JB_FMO

Sellers took price back down to the June 2019 Swing Low before settling above the Monthly S2 and Yearly Pivot. Should price stay above this level and we are likely to see more upside especially if DXY goes into Daily Phase 1. I am waiting for a reversal pattern before taking a buy trade. A clean break below could open up to more downside.

JB_FMO

Buyers managed to push price up to the Daily 100 and 200 SMAs before sellers came in strongly. As per last week, a break below the Yearly Pivot (1.3180) would be good news for sellers. Should price stay above the pivot and we could see a test of 1.3355 and even 1.3430.

JB_FMO

RBNZ surprised the market by cutting interest rates by 50 basis points when only 25 points was priced in. After a sharp drop following the decision, buyers eventually came in and pushed price back up to trendline resistance. A break above resistance and we could see a push up to 0.6540 level before another potential move to the downside

JB_FMO

A change in trend on the smaller time frame means change in phase in the higher time frame. After a big spike down, price finally moved into Daily Phase 2. I am looking for a move up to the 0.6860 level before another potential push to the downside

JB_FMO Updated 

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JB_FMO Updated 

DXY For full breakdown please visit www.financialmarketsonline.com

JB_FMO

For full breakdown please visit - www.financialmarketsonline.com