Forex outlook & trading levels
AUDUSD we wrote: Outlook remains negative...holding minor resistance at 7110/15 targets 7085/80 & 7065/60.
All targets hit.

NZDUSD topped exactly at strong resistance at 6770/80 & still holding first support at 6725/20.

AUDUSD lower as predicted to 7065/60. Below 7055 targets 7030/20 & 6995/90. Below 6980 look for 6955/50.
First resistance at 7110/20 but try shorts at 7150/60 with stops above 7175.

NZDUSD holding first support at 6725/20 & a good chance we bounce to strong resistance at 6770/80. Try shorts at 6810/20 with stops above 6835.
A break below 6710 targets 6690/85 & 6665/60.

USDJPY topped exactly at quite strong resistance at 110.40/50. Try shorts with stops above 110.60. A break higher is a buy signal targeting 110.90, perhaps as far as 111.25/30.
Shorts at 110.40/50 target 110.30, 110.15 & first support at 110.05. Below 109.95 targets a buying opportunity at 109.75/70, with stops below 109.50.

EURJPY try shorts at 124.70/80 with stops above 125.00. A break higher is a buy signal targeting 125.40 & 125.65/75.

Holding 124.35/40 on the slide but below here targets 124.05/00 & 123.85/75, perhaps as far as 123.50/40.

 

EURUSD we wrote: Break below 1.1300 is sell signal targeting Jan low at 1.1290/85 then 1.1267/63. A 30 pip profit as we bottomed exactly at 1.1267/63. USDCAD we wrote: minor resistance at 1.3280/85, stronger resistance at 1.3315/20. We topped exactly here. EURUSD break below 1.1300 was sell signal targeting 1.1267/63. Below 1.1260 risks a test of the November low @1.1220/10. A break lower is another sell signal for 1.1185 then 1.1140/30. No buy signal but oversold short term & at lower end of 3 month range after 8 days of 250 pip losses. Small long may be worth a gamble targeting 1.1290/1.1300 & resistance @1.1320/25. Try shorts; stops above 1.1340. Try shorts @1.1370/80; stops above 1.1395. USDCAD topped exactly at strong resistance @1.3315/20. Bulls need a break above 1.3330 for next buy signal targeting strongest resistance @1.3350/55. A break above the mid January high @1.3374 then required for a buy signal targeting 1.3405/10. Try longs at 1.3240/30, stops below 1.3215. A break lower targets 1.3175/65 then a buying opportunity @1.3140/30. GBPUSD 1st resistance 1.2880/90 but above 1.2910 targets 1.2940/50 b4 strong resistance @1.2980/90. A selling opportunity @1.3020/25; stops above 1.3050.

Failure to beat 1.2880/90 retests 1.2860/50. Below 1.2840 look for 1.2815/10

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