The March U.S. Dollar gapped up and closed higher on Friday as it extends last year's rally. The high range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off October's low, weekly resistance crossing at 92.53 is the next upside target. Closes below the 20-day moving average crossing at 89.60 would confirm that a short term top has been posted. First resistance is today's high crossing at 91.43. Second resistance is weekly resistance crossing at 92.53. First support is the 20 day moving average crossing at 89.60. Second support is December's low crossing at 87.83.
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The March Euro closed sharply lower on Friday as it extends last year's decline. The low range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If March extends last year's decline, monthly support crossing at 118.74 is the next downside target. Closes above the 20 day moving average crossing at 122.87 would confirm that a short term low has been posted. First resistance is the 20 day moving average crossing at 122.87. Second resistance is December's high crossing at 125.79. First support is today's low crossing at 120.09. Second support is weekly support crossing at 118.74.
The March British Pound closed sharply lower on Friday marking a downside breakout of the November-December trading range. The low range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bearish with today's decline signaling that sideways to lower prices are possible near-term. If March extends the decline off July's high, monthly support crossing at 1.4806 is the next downside target. Closes above the 20 day moving average crossing at 1.5597 are needed to confirm that a low has been posted. First resistance is the 20 day moving average crossing at 1.5597. Second resistance is the reaction high crossing at 1.5776. First support is today's low crossing at 1.5318. Second support is monthly support crossing at 1.4806.
The March Swiss Franc closed lower on Friday as it extends last year's decline. The low range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain bearish signaling that sideways to lower prices are possible near term. If March extends last year's decline, monthly support crossing at 0.9824 is the next downside target. Closes above the 20-day moving average crossing at 1.0226 are needed to confirm that a low has been posted. First resistance is the 10 day moving average crossing at 1.0132. Second resistance is the 20 day moving average crossing at 1.0226. First support is today's low crossing at 0.9998. Second support is monthly support crossing at 0.9824.
The March Canadian Dollar closed sharply lower on Friday marking a downside breakout of December's trading range. The low range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI turned neutral to bearish with today's decline signaling that sideways to lower prices are possible near term. If March extends last year's decline, monthly support crossing at 83.89 is the next downside target. Closes above the 20 day moving average crossing at 86.41 are needed to confirm that a low has been posted. First resistance is the 20 day moving average crossing at 86.41. Second resistance is November's high crossing at 89.12. First support is today's low crossing at 84.86. Second support is monthly support crossing at 83.89.
The March Japanese Yen closed lower on Friday. The low range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If March renews the decline off December's high, December's low crossing at .8219 is the next downside target. Closes above Tuesday's high crossing at .8419 are needed to confirm that a low has been posted. First resistance is December's high crossing at .8663. Second resistance is the 25% retracement level of the 2013-2014 decline crossing at .8773. First support is December's low crossing at .8219. Second support is weekly support crossing at .8171.
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