JohnFortune

JohnFortune

Despite weakness in the USD the NZDUSD continued its decline last week underlining the current weakness in the NZD Dollar. We go into next week re-testing broken support as resistance at 0.68217 proving a great place to look for short down towards the next key areas of support at 0.67726 and 0.66791 respectively.

JohnFortune

Last week AudUsd performed nicely taking out both targets from last week. We go into next week with the downtrend still intact and therefore further declines seen as the higher probability move. Price is re-testing broken support as resistance at 0.75715 providing a great place for the Bears to look for Shorting opportunities down towards the target and next key...

JohnFortune

Last week price failed to hold the support level of 113.186 before re-testing it as resistance and declining. A correction next week towards the 112.600 area (or possibly a re-test of resistance at 113.186) will provide an opportunity to look for Shorts towards the next key areas of support at 111.719 and 111.321 respectively.

JohnFortune

Last week marked the 7th week of the GBPUSD range and as a result we simply look to play the range next week. A test of the range top at 1.32696 will provide a chance to look for Short opportunities first of all down to the range equilibrium point at 1.31550 with an ultimate view to key support at 1.30342 and 1.29799 respectively.

JohnFortune

Last week saw a Short Covering Rally breaking above two key ares of resistance finally stopping at the key resistance area of 1.18363 forming a Bull Flag type pattern. Next week we look for a further correction to, with a possible re-test of broken resistance turning support at 1.17225, to provide long opportunities first for a re-test of 1.18363 with a view to...

JohnFortune

Last week Oil failed to hold at the key support of 56.83 before bouncing at the 55.03 area finishing the week with a rally back towards the 56.83 level. Next week we will look for a continuation of the overall uptrend with a break of key (now) resistance at 56.83 to clear the way for longs towards the target, and next key area of resistance, at 58.79.

JohnFortune

Last week the USD Index declined after two weeks of consolidation breaking key support at 94.030. This decline is still viewed as part of a correction and as a result we have a neutral outlook on the USD Index going into next week with a risk of a continued range. A break above the 94.030 level will indicate a resumption of the Bull trend.

JohnFortune

Last week price failed after accumulating above key support at 0.97627. A pull back and re-test of previous support turning resistance will provide a great place to look for Bearish set ups for Short down towards the the next key area of support and target of 0.96445

JohnFortune

Last week price bounced from key support at 1.66413 breaking the downward sloping trend line. This provides a great chance for a pullback to provide an opportunity for long set ups, up towards the next two key areas of resistance and targets to the upside at 1.69560 and 1.72077 respectively.

JohnFortune

After a low volatility week price continued to correct, however, the overall Bull trend remains intact. Next week we look for further advances, with a pullback to key support at 0.98783 providing a great place to look for long set ups towards the targets to the upside at 1.00774 and 1.01653 respectively.

JohnFortune

Lat week price re-tested key resistance at 0.69530 and finished the week below this key area. As a result this provides a great chance to look for Bearish formations and patterns back down towards the bottom of the corrective move at 0.68640 and 0.68217 respectively.

JohnFortune

Price has been in a 2 week period of correction but despite the risk of a pullback to previous broken support turning resistance at 0.77482, further declines are seen as the higher probability move. Targets sit at 0.76156 and 0.75817 respectively

JohnFortune

Last week price traded into and rejected from ur target and key resistance at 114.487, trading back down to key support at 113.186 where we finished the week. As we sit above support going into next week, this provides a great place to look for Bullish formation and patterns for longs back to the range top at 114.487 with a break of this area clearing the way for...

JohnFortune

The GBPUSD continued to range last week failing to sell of from the equilibrium point of the range around the 1.31550 area. Expecting the higher probability of the breakout to be to the downside (the same way price entered the range) a re-test of the range top next week at 1.32696 will provide a great place to look for Bearish formations for short back to the...

JohnFortune

Last week, after a dull week, price re-tested key resistance at 1.16720 and we go into next week below this area. As a result we will look for shorts down towards the target of 1.14932. A break of 1.16720 would clear the way for 1.17225 however we will only consider shorts below this level.

JohnFortune

Last week price traded into and through our target and key resistance at 56.86 and is currently holding as support. As long as support holds we are looking for longs up towards the next key area of resistance at 58.79.

JohnFortune

Last week price pulled back towards broken resistance area turning support at 94.030. We see this as a correction pointing to further advances as still being the higher probability move.

JohnFortune

Last weeks Bank of England data caused a sell off across the board in GBP pairs and as a result we look for further declines this week. A pullback and re-test of broken support turning resistance at 1.67971 will provide a great place to look for shorts down towards the target of 1.64165.