JohnFortune

JohnFortune

After a sustained period of consolidation last week we look towards the range bottom and the 112.117 area of support to provide a great place to look for Bullish formations on this pair, looking to initiate potential longs up towards the targets of 113.603 and 14.288 respectively. As long as the USD Index Bull run doesn't stall and the 112.117 area of support...

JohnFortune

Last week the GbpUsd was virtually absent any strength and as a result we continue to look for further declines and a continuation of the current near term downtrend. A Bear Flag set up with price re-testing broken support at 1.31550 as resistance will provide a great place to look for shorting opportunities next week down towards the target highlighted at 1.29426.

JohnFortune

EurUsd lat week broke below key support at 1.17381 and is currently testing it as resistance forming a Bear Flag in the process. As the downtrend is still intact we will look for further declines in the EurUsd towards the targets of 1.16399 and 1.15167 respectively. Only a clear break and run above the downward sloping trend line and key resistance of 1.17381 will...

JohnFortune

Last week Oil sold off below the key area of support at 50.33. This week we look for further declines in Oil with a retest of the 49.94/50.33 area of (now) resistance providing a great place to look for potential shorts down towards the target of 48.59.

JohnFortune

After the breakout of an Inverse Head and Shoulders the USD Index hit the 93.635 area as highlighted last week. The near term uptrend is still intact meaning we are looking for further advances in the USD Index. However, price is currently at a key area of resistance (93.635) which has the ability to reverse the near term trend. As long as price stays above the...

JohnFortune

Last week NzdCad broke down below key support at 0.90035 and pulled back to re-test this area twice as resistance. As long as price stays below the 0.90035 area of resistance this pair provides a great opportunity for Bears to look for shorting opportunities down towards the targets of 0.88601 and 0.87754 respectively.

JohnFortune

The NzdChf broke below key support at 0.69902 last week confirming a Head & Shoulders pattern in the process. A re-test of broken support turning resistance will provide a great place for Bears to look for shorting opportunities down towards the target of 0.69140.

JohnFortune

EurJpy broke down below key support at 133.324 and is currently in the process of retracing to test broken support as resistance, forming a Bear Flag in the process. A re-test of broken support turning resistance will provide a great place for Bears to look for short opportunities with targets to the downside at 131.067 and 130.314 respectively.

JohnFortune

A break of the counter trend line in GbpJpy with price above the key area of support at 150.204 provides a great opportunity for Bulls to look for potential long opportunities in this pair. As long as price stay above the key area of support at 150.204 we will look towards the target of 154.478. A break of key support at 150.204 would confirm a Head and Shoulders...

JohnFortune

EurChf last week capitulated below the key area of support at 1.15558 before finishing the week criss-crossing the key area of 1.14482. Price is currently in the process of forming a Descending Triangle pattern indicating further declines in the EurChf next week. As long a price stays below the 1.14482 we will look towards the targets of 1.13594 and 1.12782 respectively.

JohnFortune

NzdUsd has formed a Rectangular Formation (a Flat) and last week price sold off from the top of this formation. Next week we will look for shorts on the open however price may pullback and re-test broken support (turning resistance) at the 0.72561 area providing the Bears with a reason to be cautious with shorts next week. Targets to the downside sit at 0.71223...

JohnFortune

Last week the AudUsd broke below the key area of support at the 0.78547 and a re-test of this area (combined with trend line confluence) provides a great place for Bears to look for shorting opportunities down towards the target of 0.77122.

JohnFortune

Last week the UsdJpy broke above the key area of resistance at 112.117 before correcting back down towards this level forming a Bull Flag in the process. A re-test of the broken resistance turning support at 112.117 will provide a great place for Bull to look for potential Long opportunities up towards the targets of 113.607 and 114.288 respectively.

JohnFortune

Last week the GbpUsd corrected down into the key area of support at 1.34074 below which it finished the week. The decline is viewed as a secondary trend (correction) of a larger Bull Flag with a breakout of the downward sloping trend line providing the opportunity for a continuation and potential advances to the targets of 1.36710 and 1.37811 respectively.

JohnFortune

The EurUsd last week broke down below key support at 1.18455 and is now pulling back to re-test this area as resistance resulting in a Bear Flag formation. A re-test of the 1.18455 would provide a great place to look for potential shorting opportunities down towards the targets of 1.16942, 1.16339 and 1.15167 respectively.

JohnFortune

After selling off late last week US Oil is approaching key support at 50.81 which we will provide Bulls with a great place to start to look for potential longs and a continuation of the overall uptrend. The next key areas of resistance and targets to the upside are 53.68 and 55.11 respectively.

JohnFortune

The USD Index confirmed the breakout of the Inverse Head & Shoulder pattern last week clearing the way for further advances towards the 93.635 and 94.630 areas of resistance to the upside. A re-test of the broken resistance area of 92.565 turning support would provide a great area to look for long opportunities. Advances in the USD Index should drive USD Strength...