JohnFortune

JohnFortune

AudUsd remains Bearish despite a weak USD. Two weak currencies increase risk of range however Shorts are preferred below 0.76274.

JohnFortune

After a breakthrough in Brexit negotiations the GBP advanced and finished the week above 1.3447. With a weak USD, further advances are expected.

JohnFortune

Price corrected and held at the 1.18363 support area last week. As such Longs seen as the higher probability choice with the USD still struggling.

JohnFortune

After failing to hold above 58.79 price came back to test and hold support at 56.83. Longs seen as the higher probability move with a break of 59.79 clearing the way for 61.74.

JohnFortune

Despite Shorts from 93.455 failing to break support, price still remains in a near term down trend. Failure to trade below 92.635 suggests a possible risk of re-testing 93.455 but ultimately Shorts are preferred. Price below 92.635 clears the way to 91.550.

JohnFortune

Last week price pulled back to key resistance turned support at 1.72077 and bounced after testing it deeply. Next week further advances are expected with a correction providing a great opportunity to look for longs towards the next key areas of resistance at 1.74869 and 1.75842 respectively.

JohnFortune

Last week price broke below the key are of 1.27730 after breaking above it and failing as support, forming a Bear Flag in the process. Next week we look for further advances with a retest of 1.27730 providing a great place to look for shorts, down towards the targets and next key areas of support to the downside at 1.26382 and 1.25675 respectively.

JohnFortune

Last week price broke below key support at 0.98599. With this failure of support and a weak USD, a pullback and retest of broken support turning resistance at 0.98599 would provide an opportunity to look for shorts, down towards the next two key areas of support to the downside at 0.97622 and 0.96480 respectively.

JohnFortune

Last week price broke below key support at 0.68217 before failing to hold as resistance breaking back above this area. As a result, and with a weak USD, further advances seem likely next week with a correction (possibly even a retest of 0.68217 as support) to provide opportunities to look for longs towards key resistance at 0.69530.

JohnFortune

We start the week with AudUsd below key resistance at 0.76274 meaning the initial outlook is Bearish with an ultimate target to the downside at 0.74888. *However* - with a weaker USD a break above key resistance at 0.76274 would see us favour longs towards 0.76941.

JohnFortune

UsdJpy continued to decline taking out both targets and key areas of support. A re-test of the 111.719 area of support turning resistance will be a good place for more aggressive Bears to look for Shorts. Whilst more conservative Bears may prefer a break of 111.321 first. A break of the 111.321 area of support will clear the way for a run towards 110.008.

JohnFortune

Last week price broke and stayed above the key area of resistance and multi-week range top at the 1.3270 area. This coupled with a weak USD points to further advances in the GbpUsd. If Cable can break above the key area of resistance at 1.3341 a run towards 1.3447 is on the cards.

JohnFortune

With further declines in the USD Index seen as a medium to high probability, the EurUsd is likely to inversely benefit continuing its recent advances. A break of key resistance at 1.19370 will expose the next key area of resistance at 1.20770.

JohnFortune

Last week Oil performed well breaking above the target and key resistance area of 58.79. This week we would like to see consolidation above this broken resistance now support, with a view for further advances towards 61.74.

JohnFortune

Last week price broke below key support at 93.455 ending the week around the 92.635 area of support. This week we look for a correction and further declines with a break of key support at 92.635 clearing the way for the Bears towards 91.550

JohnFortune

Last week the AudJpy sold off breaking below key support at 85.703. A correction and possible re-test of this broken support turning resistance would provide the corrective part of a Bear Flag formation and provide opportunities for Shorts down towards the next key area of support to the downside at 83.705.

JohnFortune

Last week the EurNzd was a great performing pair clearing the targets and keys areas of resistance highlighted with ease. We go into this week with price sitting above key resistance turned support at 1.72077 with a re-test of this area providing a great place to look for Long opportunities, and a continuation of the rally, towards the next key areas of resistance...

JohnFortune

Last week price continued to correct into the key area of support at 0.98599. As we go into next week with this support area holding the preference is for further advances up towards the next key areas of resistance at 1.00774 and 1.01653. Some strength in the USD Index will be needed to make this pair rally however.