##{"id":60349,"date":"2012-08-01T10:59:52","date_gmt":"2012-08-01T00:59:52","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2012\/08\/01\/euro-and-aussie-up\/"},"modified":"2012-08-01T10:59:52","modified_gmt":"2012-08-01T00:59:52","slug":"euro-and-aussie-up","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2012\/08\/01\/euro-and-aussie-up\/","title":{"rendered":"Euro And Aussie Up"},"content":{"rendered":"

\n\tFNArena<\/span> has added another video to its Investors Education section on the website. This week ATW's<\/span> Jerry Simmons starts off his commentary on a regularly covered topic, the EUR\/USD Weekly chart, pointing out the low reached last week is in an extremely important technical area of a prior weekly low of previous years.<\/p>\n

\n\tJerry sees a fully qualified weekly Reversal Breakout Bar, but cautions it is always possible to have a failure. He notes current levels represent a very important zone for follow through to the upside, with a breakout past 1.2420-1.2450 likely to spark further acceleration to the upside. A continuation this week will be the key.<\/p>\n

\n\tThe AUD\/USD weekly also tested the previous week’s low, which Jerry points out is also a Dual Purpose Trend Line zone that held. He thinks we’re set for a big break out, noting a direct correlation between the AUD\/USD and equities and hard assets.<\/p>\n

\n\tLooking at the Nasdaq<\/span> Futures chart, Jerry goes over some major moves off the lows, leaving us at a strategic resistance zone. Keep an eye on 2620-2625, says Jerry, as a break past there should test highs at 2643 then 2655.<\/p>\n

\n\tThere were some very significant moves on the Shares FTSE\/Xinhua<\/span> China 25 Index chart, which has traded up to the previous week’s high. Jerry explains that if we’re going to have another bull market, the FXI<\/span> will have to take a leadership role. This week, should be a big one, says Jerry.<\/p>\n

\n\tUS 10-Year Treasury Notes are still in a market bubble that will burst at some point and Jerry thinks it may not be a vertical spike, but rather a roll over type of decline. A break below 134 would indicate more scope for moves to the downside.<\/p>\n

\n\tComex Gold also booked a significant key event, breaking out past the upper trend line. However, Jerry still wants to see a move past 1640 to confirm. 1600-1605 remains the critical support zone.<\/p>\n

\n\t To view the ATW<\/span> Strategic Prep Video click HERE<\/a> or visit the FNArena<\/span> Investors Education <\/a>section of the website<\/span>.<\/p>\n

\n\t
\n\tAll views expressed are Jerry Simmons's, not FNArena's (see our disclaimer).<\/em><\/p>\n

\n\tJerry Simmons has over 25 years of full-time trading experience. He is the senior partner and head mentor for the “Masters” Programme within the education system at New York based Advanced Trading Workshop (ATW).<\/em><\/p>\n

\n\tFNArena is pleased to have Jerry Simmons as a highly valued contributor to its service which aims at both educating investors and assisting them with their own market analyses.<\/em><\/p>\n

\n\tFind out why FNArena subscribers like the service so much: "Your Feedback (Thank You)<\/a>" – Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"