JohnFortune

JohnFortune

After the sell off from last weeks ECB press conference we are looking for a correction into broken support turning resistance at the 1.17225 area which will provide a great place to look for Bearish formations and patterns for shorts down to the target of 1.14932.

JohnFortune

We start the week with US Oil above broken resistance at 52.73 with the pole of a potential Bull flag forming. A correction (the flag) back towards the 52.73 area of resistance turning support will provide a great place to look for Bullish formations and patterns for longs up towards the next key areas of resistance and targets to the upside at 54.48 and 55.23...

JohnFortune

We start the week with the USD Index above key resistance of 94.030 hinting at further advances in the USD Index. A pullback and re-test of the 94.030 will provide a great chance to look for Bullish formations and patterns towards the target and next key area of resistance at 95.270

JohnFortune

AudJpy broke above key resistance at 88.337 and is now looking to re-test this area of confluence (horizontal support and trend line support) with an ABC corrective pattern. This provides a great opportunity to look for longs up towards the target of the 89.352 next week.

JohnFortune

Last week UsdCad bounced from key support at 1.24488 stopping just short of the target at 1.26491. This week we look for a Bull flag correction, and possible test of intermediate support at 1.25207, in order to initiate longs up to the initial target of 1.26491 and a possible breakout clearing the way for the second target at the 1.27730 area of resistance.

JohnFortune

Last week the UsdChf broke above the key area of resistance at 0.97622 and re-tested it before trading higher into the 0.98500 area. We go into next week looking for a Bull flag type correction to provide an opportunity for longs up towards the target of 0.98783.

JohnFortune

Last week the NzdUsd sold off heavily after news of a change of government in New Zealand reflecting a level of market uncertainty about continuity of New Zealand political policy. As a result we will be looking for a possible small channel to the upside, possibly with a re-test of broken support turning resistance at 0.70588, where we will look for Bearish...

JohnFortune

Despite the potential for further advances in the USD Index next week we start the week with AudUsd forming a large ABC corrective pattern and sitting above key support at 0.78099. As long as this key level of support holds we will be looking for Bullish formations and patterns to initiate longs up towards the target and range top at 0.78728.

JohnFortune

We start this week above the range top of 113.186 in the UsdJpy pointing to further advances. A re-test of the range top with a flag type correction would provide a great place to look for Bullish formations and patterns up towards the next key area of resistance to the upside and target of 114.487.

JohnFortune

Last week the GbpUsd broke below key support at 1.31550 before finishing the week back above it. As long as the downward sloping Bear channel stays intact we will be looking for Bearish formations and patterns next week down towards the target and next key area of support to the downside at 1.30342.

JohnFortune

Last week the EurUsd sold off from key resistance at 1.18363 hinting at further declines. As long as price remains below 1.18363 we will be looking for Bearish formations and patterns, and a possible re-test of resistance, looking to initiate shorts down towards the next key area of support target of 1.17225

JohnFortune

Last week US Oil broke above the counter trend line and starts next week above the key area of support at 51.52 as well. Any correction will provide a great opportunity to look for Bullish formations and patterns, looking towards a target of 52.73.

JohnFortune

We start the week with the USD Index above key resistance at 93.455 leading to a Bullish bias in this market next week. A failure of resistance would pave the way for a re-test of support at 92.635 however as long as we remain above 93.455 we will only be looking for longs in the USD Index next week.

JohnFortune

Last week GbpJpy sold off and is currently looking to test resistance at 148.473. This provides a great opportunity for potential Shorts down towards the targets of 146.152 and 144.518 respectively.

JohnFortune

EurGbp continued its strong near term advance last week and we look ahead for further advances next week after a corrective period. A pullback to the 0.89260 area of support would be a great place to look for long opportunities towards the targets of 0.90275 and 0.91124. A failure of the 0.89260 area of support could point towards a bigger correction to the...

JohnFortune

UsdCad continued its advance last week finishing the week with a Bull Flag formation. Next week we look for further advances in the UsdCad with a pullback to the 1.25009 area of support a great place to look for long opportunities up towards the target of 1.26325.

JohnFortune

As with a number of markets the NzdUsd sold off late last week providing us with another potential pole of a Bear Flag. It remains to be seen what correction follows but either way we look for a correction of sorts to take advantage of further potential declines next week. A re-test of the broken support as resistance at 0.78160 provides a great place to look for...

JohnFortune

After a steep sell off last week we look for further declines next week with a test of the resistance confluence (horizontal resistance and trend line resistance) providing a great chance to look for shorting opportunities down towards the targets of 0.77122 and 0.76982 respectively.