##{"id":60489,"date":"2012-08-29T10:26:53","date_gmt":"2012-08-29T00:26:53","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2012\/08\/29\/aussie-set-to-break-down\/"},"modified":"2012-08-29T10:26:53","modified_gmt":"2012-08-29T00:26:53","slug":"aussie-set-to-break-down","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2012\/08\/29\/aussie-set-to-break-down\/","title":{"rendered":"Aussie Set To Break Down?"},"content":{"rendered":"

\n\tFNArena<\/span> has added another video to its Investors Education section on the website. This week ATW's<\/span> Jerry Simmons takes a look at natural gas and its likelihood of moving lower. The prospects for the Euro, Aussie and USD also feature, as does crude oil and some of the soft commodities.<\/p>\n

\n\tFor natural gas, Jerry notes a key support zone at 2.00-2.70 was hit the week before last and with the chart sitting at around the same high for two weeks, he sees a good chance for another pullback. However, Jerry reckons the odds are favouring<\/span> a range expansion this week, with 2.00-2.65 the initial target then possibly on to 2.43-2.50.<\/p>\n

\n\tThere are three 3 key questions to be answered this week. Will there be a move to a lower low, will we see a key bounce to the upside and lastly, will we actually see a range expansion?<\/p>\n

\n\tMore news from Jerry on the EUR\/USD weekly chart, noting the 1.256-1.262 area has become a major, major resistance zone. A breakout past this zone will be huge and could well affect global equities, thinks Jerry. Unless a key support is broken, the odds favour<\/span> a continuation to the upside.<\/p>\n

\n\tThe AUD\/USD weekly chart is also looking very interesting to Jerry, noting we should be in for a huge week this week. A break below 1.384 will confirm a bearish set up and last week certainly exhibited bear market behaviour<\/span>, but until 1.384 is broken, he can’t call it a confirmed reversal.<\/p>\n

\n\tLast week saw a major breakout in Comex<\/span> Gold, with an "openX<\/span> closeX<\/span>" forming and range expansion taking place. Jerry thinks we’ve seen a fully qualified break out to the upside, having already reached the next resistance zone at 1677. The next stop is at 1715-1735 and if broken, a quick run to 1780-1765 could be on the cards. On the other hand, a pullback to the 1645-1652 area would be a key event for a buy zone.<\/p>\n

\n\tCrude has hit a 16 week cycle high last week, with Jerry thinking last Thursday’s pull back was a sign that traders are already respecting the level. Jerry expects a decline from here, although it could be as small as 2-3 weeks or it could be larger.<\/p>\n

\n\tThe Soybean weekly chart is still showing a bull market and has broken out to new multi-year highs. Meanwhile Corn finished last week at the weekly low. Jerry sees a breakout move coming this week, noting a break below 765-770 would favour<\/span> a continuation move to the downside.<\/p>\n

\n\tApple posted a big breakout move last week as well, with Jerry noting some very bullish behaviour<\/span> on the charts. A further push higher should see a target in the 695-700 range.<\/p>\n

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

\n\t
\n\tAll views expressed are Jerry Simmons's, not FNArena's<\/span> (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<\/span> within the education system at New York based Advanced Trading Workshop (ATW<\/span>).<\/em><\/p>\n

\n\tFNArena<\/span> 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<\/span>.<\/em><\/p>\n

\n\tFind out why FNArena<\/span> 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":"