New Law Could Send Bitcoin and Cryptos Skyrocketing Higher By January

I have a new message and update from my trading partner Teeka Tiwari of the Palm Beach Research Group, make sure you are keeping up with him this week.....

A few weeks ago, I told my team that we needed to get the word out about a major Bitcoin development. Something that could be very bullish for cryptocurrencies. I won’t get into all the nitty gritty. But in short, a new bi-partisan law is working its way through Congress as we speak, and is targeted to go into effect by January 1st. When it does, it could send Bitcoin and a handful of lesser-known cryptos soaring in the coming weeks and months.

Why do I say that?

Because when the same law was passed in Europe, Bitcoin jumped 80% in two weeks. And when a similar law passed in Japan earlier this year, it helped send the entire crypto market over 100%, and break out to all time highs. Now I believe we’re about to see the same thing here. Only when this happens in America, the returns could dwarf what we’ve seen from smaller areas.

That’s why I’m holding this free webinar....

I want to give you all the details on this development and explain how to take advantage of it to potentially make 5, 10, even 20 times your money, as those who follow my work have already been able to do. In fact, I’m so bullish that this new law could send Bitcoin soaring that I’m buying $1 million dollars of Bitcoin and giving it all away during the event.

You’ll get all the details Thursday night. The event is completely free, but you must register in advance to access it and claim all the free training that comes with it. You can do so automatically here.

Sincerely,
Teeka Tiwari

P.S.  As soon as you register, you’ll gain access to my new “Crypto Academy” training site. It features “over the shoulder” video training on how to invest in any cryptocurrency. A special report on on my investment strategy (the exact strategy I use to deliver multiple 1,000% plus winners) and several more pieces of research.

P.P.S  When you register automatically by visiting here now, you’ll also reserve a spot to a Live Q&A with me – where I’ll answer everyone’s most burning questions (please keep in mind, I cannot give personalized investment advice).

Visit Here to Automatically Register Right Now

Currency Market Summary for Week Ending Friday September 4th

The December Dollar closed lower on Friday but remains above the 20 day moving average crossing at 96.29. The high range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near term. If December extends the rally off August's low, the reaction high crossing at 97.40 is the next upside target. First resistance is the reaction high crossing at 97.04. Second resistance is August's high crossing at 98.74. First support is August's low crossing at 92.85. Second support is the 75% retracement level of the 2014-2015 rally crossing at 92.36.

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The December Euro closed higher due to short covering on Friday but remains below the 20 day moving average crossing at 112.26. The mid range close sets the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near term. If December extends this week's decline, the reaction low crossing at 110.39 is the next downside target. First resistance is August's high crossing at 117.30. Second resistance is the 38% retracement level of the 2014-2015 decline crossing at 118.34. First support is the reaction low crossing at 110.39. Second support is August's low crossing at 108.73.

The December British Pound closed lower on Friday as it extended its decline off August's high. The low range close sets the stage for a steady to lower opening when Tuesday'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 December extends the aforementioned decline, the 62% retracement level of the April-June-rally crossing at 1.5110 is the next downside target. Closes above the 20 day moving average crossing at 1.5516 would confirm that a short term low has been posted. First resistance is the 10 day moving average crossing at 1.5406. Second resistance is the 20 day moving average crossing at 1.5516. First support is today's low crossing at 1.5159. Second support is the 62% retracement level of the April-June rally crossing at 1.5110.

The December Swiss Franc posted an inside day with a higher close on Friday as it consolidates some of the decline off August's high. The high range close sets the stage for a steady to higher opening when Tuesday'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 December extends the decline off August's high, the reaction low crossing at 1.0248 is the next downside target. Closes above the 10 day moving average crossing at 1.0460 would confirm that a short term low has been posted. First resistance is the 10 day moving average crossing at 1.0460. Second resistance is August's high crossing at 1.0842. First support is the reaction low crossing at 1.0248. Second support is August's low crossing at 1.0147.

The December Canadian Dollar closed lower on Friday. The low range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near term. If December resumes the decline off May's high, weekly support crossing at 73.92 is the next downside target. Closes above the reaction high crossing at 77.10 are needed to confirm that a low has been posted. First resistance is the reaction high crossing at 77.10. Second resistance is the reaction high crossing at 77.68. First support is August's low crossing at 74.87. Second support is weekly support crossing at 73.92.

The December Japanese Yen closed higher on Friday as it extends this week's rally. The high range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near term. If December renews the rally off August's low, August's high crossing at .8603 is the next upside target. Closes below the 20 day moving average crossing at .8212 are needed to confirm that a short term top has been posted. First resistance is August's high crossing at .8603. Second resistance is January's high crossing at .8653. First support is the 10 day moving average crossing at .8349. Second support is the 20 day moving average crossing at .8212.

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Currency Market Summary for Week Ending Friday August 28th

The September Dollar closed higher due to short covering on Friday as it extends the rally off August's low. 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 neutral to bullish signaling that sideways to higher prices are possible near term. Closes above the 20 day moving average crossing at 96.45 are needed to confirm that a low has been posted. If September resumes the decline off August's high, the 62% retracement level of the 2014-2015 rally crossing at 91.04 is the next downside target. First resistance is the 20 day moving average crossing at 95.45. Second resistance is the reaction high crossing at 97.11. First support is Monday's low crossing at 92.52. Second support is the 62% retracement level of the 2014-2015 rally crossing at 91.04.

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The September Euro closed lower on Friday as it extends this week'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 neutral to bearish signaling that sideways to lower prices are possible near term. Closes below the 20 day moving average crossing at 111.40 are needed to confirm that a short term top has been posted. If September renews the rally off July's low, the 38% retracement level of the 2014-2015 decline crossing at 118.09 is the next upside target. First resistance is Monday's high crossing at 117.18. Second resistance is the 38% retracement level of the 2014-2015 decline crossing at 118.09. First support is the 20 day moving average crossing at 111.40. Second support is the reaction low crossing at 110.20.

The September British Pound closed lower on Friday as it extended its decline off Tuesday's high. The mid 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 September extends this week's decline, July's low crossing at 1.5323 is the next downside target. Closes above the 10 day moving average crossing at 1.5604 would confirm that a short term low has been posted. First resistance is Tuesday's high crossing at 1.5817. Second resistance is June's high crossing at 1.5924. First support is July's low crossing at 1.5323. Second support is June's low crossing at 1.5160.

The September Swiss Franc closed higher on Friday. The mid range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near term. Closes below the 20 day moving average crossing at 1.0333 are needed to confirm that a short term top has been posted. If September renews the rally off August's low, the 87% retracement level of the May-August decline crossing at 1.0922 is the next upside target. First resistance is Monday's high crossing at 1.0809. Second resistance is the 87% retracement level of the May-August decline crossing at 1.0922. First support is the 20 day moving average crossing at 1.0333. Second support is the reaction low crossing at 1.0213.

The September Canadian Dollar closed slightly higher due to short covering on Friday. The mid range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish hinting that a low might be in or is near. Closes above the reaction high crossing at 77.20 are needed to confirm that a low has been posted. If September extends the decline off May's high, weekly support crossing at 73.92 is the next downside target. First resistance is the reaction high crossing at 77.20. Second resistance is the reaction high crossing at 77.73. First support is Wednesday's low crossing at 74.93. Second support is weekly support crossing at 73.92.

The September Japanese Yen closed lower on Friday as it extends the correction off Monday's high. 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 neutral to bearish signaling that a short term top might be in or is near. Closes below the 20 day moving average crossing at .8126 are needed to confirm that a short term top has been posted. If September renews this month's rally, January's high crossing at .8640 is the next upside target. First resistance is Monday's high crossing at .8591. Second resistance is January's high crossing at .8640. First support is the 10 day moving average crossing at .8216. Second support is the 20 day moving average crossing at .8126.

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This Weeks Currency and Forex Market Summary

The September U.S. Dollar closed higher on Friday as it extends this week's rally. The mid range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near term. Multiple closes above the 20 day moving average crossing at 95.47 are needed to confirm that a low has been posted. If September resumes the decline off May's high, the 50% retracement level of the September-March rally crossing at 93.06 is the next downside target. First resistance is the 20 day moving average crossing at 95.47. Second resistance is the reaction high crossing at 97.34. First support is last Thursday's low crossing at 93.30. Second support is the 50% retracement level of the September-March rally crossing at 93.06.

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The September Euro closed lower on Friday as it extended this week's decline below the 20 day moving average crossing at 112.52. 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 neutral to bearish signaling that sideways to lower prices are possible near term. If September extends this week's decline, the reaction low crossing at 110.64 is the next downside target. If September renews the rally off May's low, May's high crossing at 114.85 is the next upside target. First resistance is May's high crossing at 114.85. Second resistance is the February's high crossing at 115.60. First support is the reaction low crossing at 110.64. Second support is May's low crossing at 108.37.

The September Swiss Franc closed higher due to short covering on Friday as it consolidates some of this week's decline but remains below the 20 day moving average crossing at 1.0774. 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 neutral to bearish signaling that sideways to lower possible near term. If September extends this week's decline, May's low crossing at 1.0526 is the next downside target. If September renews the rally off May's low, May's high crossing at 1.1042 is the next upside target. First resistance is last Thursday's high crossing at 1.0964. Second resistance is May's high crossing at 1.1042. First support is May's low crossing at 1.0526. Second support is the reaction low crossing at 1.0373.

The September Canadian Dollar closed unchanged on Friday. 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 neutral to bearish signaling that sideways to lower prices are possible near term. If September extends this week's decline, June's low crossing at 79.46 is the next downside target. If September resumes this month's rally, May's high crossing at 83.75 is the next upside target. First resistance is last Thursday's high crossing at 82.35. Second resistance is May's high crossing at 83.75. First support is Wednesday's low crossing at 80.39. Second support is June's low crossing at 79.46.

The September 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near term. If September extends this month's rally, the reaction high crossing at .8300 is the next upside target. If September renews this year's decline, monthly support crossing at .7415 is the next downside target. First resistance is last Thursday's high crossing at .8180. Second resistance is the reaction high crossing at .8300. First support is June's low crossing at .7956. Second support is monthly support crossing at .7415.

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Mid Week Currency and Forex Market Summary - Dollar, Franc, Yen, Pound, Euro

The March Dollar closed lower on Wednesday as it extends the trading range of the past four weeks. The low range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near term. Closes below the reaction low crossing at 93.38 are needed to confirm that a short term top has been posted and would open the door for additional weakness near term. If March renews the rally off October's low, weekly resistance crossing at 96.16 is the next upside target. First resistance is January's high crossing at 95.85. Second resistance is weekly resistance crossing at 96.16. First support is the reaction low crossing at 93.38. Second support is the reaction low crossing at 91.49.

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The March Euro closed slightly higher on Wednesday as it extends the trading range of the past four weeks. The mid-range close sets the stage for a steady opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near term. If March renews this winter's decline, monthly support crossing at 107.59 is the next downside target. Closes above the reaction high crossing at 115.39 are needed to confirm that a short term low has been posted. First resistance is the reaction high crossing at 115.39. Second resistance is the reaction high crossing at 118.78. First support is January's low crossing at 111.02. Second support is weekly support crossing at 107.59.

The March British Pound closed higher on Wednesday as it extends the rally off January's low. The high range close sets the stage for a steady to higher opening when Thursday'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 this month's rally, the 38% retracement level of the June-January decline crossing at 1.5775 is the next upside target. Closes below the 20 day moving average crossing at 1.5288 would temper the near term friendly outlook. First resistance is today's high crossing at 1.5537. Second resistance is the 38% retracement level of the June-January decline crossing at 1.5775. First support is the 10 day moving average crossing at 1.5407. Second support is the 20 day moving average crossing at 1.5288.

The March Swiss Franc closed slightly higher on Wednesday. The high range close sets the stage for a steady to higher opening when Thursday'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 the decline off January's high, the 75% retracement level of January's rally crossing at 1.0399 is the next downside target. Closes above the 20 day moving average crossing at 1.0752 would confirm that a low has been posted. First resistance is the 10 day moving average crossing at 1.0636. Second resistance is the 20 day moving average crossing at 1.0752. First support is last Friday's low crossing at 1.0497. Second support is the 75% retracement level of January's rally crossing at 1.0399.

The March Canadian Dollar closed higher on Wednesday while extending this month's trading range. The high range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near term. If March renews this month's rally, the 25% retracement level of the 2013-2015 decline crossing at 82.65 is the next upside target. If March resumes this winter's decline, monthly support crossing at 76.53 is the next downside target. First resistance is last Tuesday's high crossing at 80.87. Second resistance is the 25% retracement level of the 2013-2015 decline crossing at 82.65. First support is January's low crossing at 78.08. Second support is monthly support crossing at 76.53.

The March Japanese Yen closed slightly higher on Wednesday as it extends a three month old trading range. The mid range close sets the stage for a steady opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher pirces are possible near term. Closes above the 20 day moving average crossing at .8438 would temper the near term bearish outlook. If March renews the decline off January's high, the reaction low crossing at .8282 is the next downside target. First resistance is the 20 day moving average crossing at .8442. Second resistance is December's high crossing at .8663. First support is the reaction low crossing at .8282. Second support is December's low crossing at .8219.

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Currency Market Summary and Recap for Week Ending January 16th - Dollar, Franc, Euro, Pound, Yen

The March U.S. Dollar closed higher on Friday as it extends this winter's rally. The mid range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought, diverging and are turning neutral to bearish signaling that a short term top might be in or is near. Closes below the 20 day moving average crossing at 91.29 would confirm that a short term top has been posted. If March extends the rally off October's low, weekly resistance crossing at 94.32 is the next upside target. First resistance is today's high crossing at 93.56. Second resistance is weekly resistance crossing at 94.32. First support is the 10 day moving average crossing at 92.28. Second support is the 20 day moving average crossing at 91.29.

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The March Euro closed lower on Friday as it extends this winter's decline. The mid range close sets the stage for a steady opening when Tuesday'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 this winter's decline, monthly support crossing at 112.75 is the next downside target. Closes above the 20 day moving average crossing at 119.87 would confirm that a short term low has been posted. First resistance is the 10 day moving average crossing at 117.96. Second resistance is the 20 day moving average crossing at 119.75. First support is today's low crossing at 114.67. Second support is weekly support crossing at 112.75.

The March British Pound closed lower on Friday. The mid range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is 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 1.5351 are needed to confirm that a low has been posted. First resistance is Thursday's high crossing at 1.5261. Second resistance is the 20 day moving average crossing at 1.5351. First support is last Thursday's low crossing at 1.5027. Second support is monthly support crossing at 1.4806.

The March Swiss Franc closed higher on Friday as it extended Thursday's huge rally. The high range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near term. If March extends this week's rally, monthly resistance crossing at 1.2503 is the next upside target. Closes below the 20 day moving average crossing at 1.0172 would confirm that a short term top has been posted. First resistance is Thursday's high crossing at 1.1862. Second resistance is monthly resistance crossing at 1.2503. First support is Wednesday's low crossing at 0.9777. Second support is monthly support crossing at 0.9421.

The March Canadian Dollar closed slightly higher on Friday. The high range close sets the stage for a steady to higher opening when Tuesday'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 this winter's decline, monthly support crossing at 80.30 is the next downside target. Closes above the 20 day moving average crossing at 84.90 are needed to confirm that a low has been posted. First resistance is the 20 day moving average crossing at 84.90. Second resistance is the reaction high crossing at 86.33. First support is today's low crossing at 82.90. Second support is monthly support crossing at 80.30.

The March Japanese Yen closed lower on Friday marking a downside reversal. The low range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought and are turning neutral to bearish hinting that a short term top might be in or is near. Closes below the 20 day moving average crossing at .8398 would confirm that a short term top has been posted. If March extends this week's rally, December's high crossing at .8663 is the next upside target. 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 the reaction low crossing at .8282. Second support is December's low crossing at .8219.

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Currency Market Summary for Monday October 13th

The December Dollar closed lower on Monday. The low range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral signaling that sideways to lower prices are possible near term. Closes below the 20 day moving average crossing at 85.43 would confirm that a short term top has been posted. If December renews the rally off May's low, weekly resistance crossing at 87.00 is the next upside target. First resistance is October's high crossing at 86.87. Second resistance is weekly resistance crossing at 87.00. First support is the 20 day moving average crossing at 85.43. Second support is the reaction low crossing at 84.00.

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The December Euro closed higher on Monday. The high range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near term. If December extends this summer's decline, monthly support crossing at 124.56 is the next downside target. Closes above the 20 day moving average crossing at 127.40 are needed to confirm that a low has been posted. First resistance is the 20 day moving average crossing at 127.40. Second resistance is the reaction high crossing at 130.06. First support is October's low crossing at 125.06. Second support is weekly support crossing at 124.56.

The December British Pound closed higher on Monday. The low range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near term. If December resumes the decline off July's high, the 62% retracement level of the 2013-2014 rally crossing at 1.5732 is the next downside target. First resistance is the 20 day moving average crossing at 1.6200. Second resistance is the reaction high crossing at 1.6515. First support is October's low crossing at 1.5941. Second support is the 62% retracement level of the 2013-2014 rally crossing at 1.5732.

The December Swiss Franc closed higher on Monday. The high range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near term. Closes above the 20 day moving average crossing at 1.0541 would confirm that a low has been posted. If December extends the decline off July's high, monthly support crossing at 1.0166 is the next downside target. First resistance is the 20 day moving average crossing at 1.0541. Second resistance is the reaction high crossing at 1.0761. First support is October's low crossing at 1.0333. Second support is monthly support crossing at 1.0166.

The December Canadian Dollar closed higher on Monday. The mid-range close sets the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near term. If December extends the decline off July's high, the March low crossing at 88.31 is the next downside target. Closes above the 20 day moving average crossing at 89.83 would confirm that a short term low has been posted. First resistance is the 20 day moving average crossing at 89.93. Second resistance is the reaction high crossing at 91.67. First support is October's low crossing at 88.57. Second support is March's low crossing at 88.31.

The December Japanese Yen gapped up and closed higher on Monday as it extended this month's rally. The high range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remains neutral to bullish signaling that sideways to higher prices are possible near term. If December extends this month's rally, the 38% retracement level of this year's decline crossing at .9415 is the next upside target. Closes below the 20 day moving average crossing at .9213 would confirm that a short term low has been posted. First resistance is today's high crossing at .9344. Second resistance is the 38% retracement level of this year's decline crossing at .9415. First support is October's low crossing at .9088. Second support is weekly support crossing at .9013.

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Mid Week Currency Market Summary for Wednesday Sept 10th

The December Dollar posted an inside day with a lower close on Wednesday as it consolidates some of this summer's rally. The mid-range close sets the stage for a steady opening when Thursday'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 December extends the rally off May's low, weekly resistance crossing at 84.96 is the next upside target. Closes below the 20 day moving average crossing at 82.83 would confirm that a short term top has been posted. First resistance is Tuesday's high crossing at 84.65. Second resistance is weekly resistance crossing at 84.96. First support is the 10 day moving average crossing at 83.52. Second support is the 20 day moving average crossing at 82.83.

The December Euro closed slightly lower on Wednesday. The mid range close sets the stage for a steady opening when Thursday'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 December extends this summer's decline, the July 2013 low crossing at 128.50 is the next downside target. Closes above the 20 day moving average crossing at 131.78 are needed to confirm that a low has been posted. First resistance is the 10 day moving average crossing at 130.52. Second resistance is the 20 day moving average crossing at 131.78. First support is Tuesday's low crossing at 128.71. Second support is the July 2013 low crossing at 128.50.

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The December British Pound closed sharply higher on Wednesday as it consolidated some of the decline off July's high. The high range close sets the stage for a steady to higher opening when Thursday'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 December extends the decline off July's high, the 50% retracement level of the 2013-2014 rally crossing at 1.6007 is the next downside target. Closes above Monday's gap crossing at 1.6273 would confirm that a low has been posted. First resistance is Monday's gap crossing at 1.6273. Second resistance is the 10 day moving average crossing at 1.6359. First support is today's low crossing at 1.6039. Second support is the 50% retracement level of the 2013-2014 rally crossing at 1.6007.

The December Swiss Franc closed lower on Wednesday as it extends the decline off March's high. The low range close sets the stage for a steady to lower opening when Thursday'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 December extends the decline off July's high, the 87% retracement level of the 2013-2014 rally crossing at 1.0518 is the next downside target. Closes above the 20-day moving average crossing at 1.0907 would confirm that a low has been posted. First resistance is the 10 day moving average crossing at 1.0818. Second resistance is the 20 day moving average crossing at 1.0907. First support is the 75% retracement level of the 2013-2014 rally crossing at 1.0653. Second support is the 87% retracement level of the 2013-2014 rally crossing at 1.0518.

The December Canadian Dollar closed higher due to short covering on Wednesday. The high range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near term. Closes below the reaction low crossing at 90.70 would confirm that a top has been posted while opening the door for additional weakness near term. Closes above the 10 day moving average crossing at 91.49 would temper the near term bearish outlook. First resistance is the 10 day moving average crossing at 91.49. Second resistance is the reaction high crossing at 92.26. First support is the 62% retracement level of the March-July rally crossing at 90.40. Second support is the 75% retracement level of the March-July rally crossing at 89.67.

The December Japanese Yen closed lower on Wednesday as it extends this summer's decline. Today's low range close sets the stage for a steady to lower opening when Thursday'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 December extends the decline off June's high, weekly support crossing at .9013 is the next downside target. Closes above the 20 day moving average crossing at .9610 would confirm that a short term low has been posted. First resistance is the 10 day moving average crossing at .9524. Second resistance is the 20 day moving average crossing at .9610. First support is today's low crossing at .9365. Second support is weekly support crossing at .9013.

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Currency Market Summary for week ending Sept. 5th

The December Dollar closed lower due to profit taking on Friday as it consolidated some of the rally off May's low. The mid range close sets the stage for a steady 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 December extends the rally off May's low, weekly resistance crossing at 84.96 is the next upside target. Closes below the 20 day moving average crossing at 82.41 would confirm that a short term top has been posted. First resistance is today's high crossing at 84.08. Second resistance is weekly resistance crossing at 84.96. First support is the 10-day moving average crossing at 82.99. Second support is the 20 day moving average crossing at 82.41.

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The December Euro closed higher due to short covering on Friday as it consolidated some of Thursday's decline. The mid 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 December extends this summer's decline, the July 2013 low crossing at 128.50 is the next downside target. Closes above the 20 day moving average crossing at 132.48 are needed to confirm that a low has been posted. First resistance is the 10 day moving average crossing at 131.37. Second resistance is the 20 day moving average crossing at 132.48. First support is Thursday's low crossing at 129.32. Second support is the July 2013 low crossing at 128.50.

The December British Pound closed lower on Friday as it extends the decline off July's high. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If December extends the decline off July's high, the 50% retracement level of the 2013-2014 rally crossing at 1.6007 is the next downside target. Closes above the 20 day moving average crossing at 1.6583 would confirm that a low has been posted. First resistance is the 10 day moving average crossing at 1.6486. Second resistance is the 20 day moving average crossing at 1.6583. First support is today's low crossing at 1.6273. Second support is the 50% retracement level of the 2013-2014 rally crossing at 1.6007.

The December Swiss Franc closed higher due to short covering on Friday as it consolidated some of the decline off March's high. The mid range close sets the stage for a steady 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 December extends the decline off July's high, the 75% retracement level of the 2013-2014 rally crossing at 1.0653 is the next downside target. Closes above the 20 day moving average crossing at 1.0958 would confirm that a low has been posted. First resistance is the 10 day moving average crossing at 1.0887. Second resistance is the 20 day moving average crossing at 1.0958. First support is today's low crossing at 1.0724. Second support is the 75% retracement level of the 2013-2014 rally crossing at 1.0653.

The December Canadian Dollar closed slightly 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 neutral signaling that sideways trading is possible near term. Closes below last Tuesday's low crossing at 90.70 would confirm that a top has been posted. If December renews the rally off last Tuesday's low, the reaction high crossing at 93.04 is the next upside target. First resistance is last Friday's high crossing at 92.26. Second resistance is the reaction high crossing at 93.04. First support is last Tuesday's low crossing at 90.70. Second support is the 62% retracement level of the March-July rally crossing at 89.67.

The December Japanese Yen closed higher due to short covering on Friday after spiking below weekly support crossing at .9486. Today's mid range close sets the stage for a steady to higher 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 December extends the decline off June's high, weekly support crossing at .9013 is the next downside target. Closes above the 20 day moving average crossing at .9668 would confirm that a short term low has been posted. First resistance is the 10 day moving average crossing at .9587. Second resistance is the 20 day moving average crossing at .9668. First support is today's low crossing at .9469. Second support is weekly support crossing at .9013.

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Week Ending Currency Market Summary for Thursday July 3rd

The September Euro currency closed down 46 points at 1.3612 today. Prices closed nearer the session low and closed at a bearish weekly low close today. The Euro bulls and bears are on a level overall near term technical playing field but the bulls are fading.

The September Japanese Yen closed down 37 points at .9789 today. Prices closed nearer the session low today, hit a two week low and closed at a bearish weekly low close. The bulls have lost their slight near term technical advantage. A four week old uptrend on the daily bar chart was negated today.

The September Swiss Franc closed down 53 points at 1.1200 today. Prices closed near mid range, hit a two week low and closed at a bearish weekly low close today. The bulls have lost their near term technical advantage. A four week old uptrend on the daily bar chart was negated today.

The September Canadian Dollar closed up 33 points at .9389 today. Prices closed nearer the session high and scored a bullish outside day up on the daily bar chart. Prices also hit another seven month high and closed at a bullish weekly high close today. The bulls have the solid near term technical advantage. A three month old uptrend is in place on the daily bar chart.

The September British Pound closed down 11 points at 1.7142 today. Prices closed nearer the session high. The bulls have the solid overall near term technical advantage.

The September U.S. Dollar index closed up 0.270 at 80.255 today. Prices closed near mid range on short covering in a bear market. Prices did close at a bullish weekly high close today. The greenback bears still have the near term technical advantage.

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Are You Ready for Negative Interest Rate and Pay the Bank to Hold Your Money?

The six members of the European Central Bank (ECB) Executive Board and the 16 governors of the euro area central banks vote on where to set the rate. We watch interest rate changes closely as short term interest rates are the primary factor in currency valuation.
 

A higher than expected rate is positive for the EUR, while a lower than expected rate is negative for the EUR. Today (Thursday June 5th) we expected a rate cut. The cut was not as much as analysts expected which is bullish for the short term, but the rate is still declining and nearing zero, or even worse, negative territory.





A negative interest rate may sound crazy or impossible, but it's already happening in Denmark. Europe is already in a deflationary state and central banks are doing everything they can to bring about inflation by cutting rates and devaluing the euro. This will cause a ripple through multiple asset classes and will drastically alter the outcome of individuals worldwide. Just imagine if you had to pay a bank to hold your money and you do not earn any interest but rather pay interest.

People who have been saving their entire lives will get hit the hardest. Retired folks will stop earning money and start paying for all the money they hold held at banks. Individuals will go more into debt because money will be extremely cheap to borrow. Price of assets like equities, real estate, discretionary goods will rise because the cheap money everyone is borrowing will be used to buy more stuff. While all this happens everyone takes on more dept. It is a brutal spiral leading to increase debt levels, inflation and eventually bankruptcy.

If the euro dollar starts to decline at a quicker pace the U.S. dollar will likely rally. A strong dollar could affect the commodities market including gold, silver and the European stock markets. Todays rate cut led to a pop in the euro, but that is likely to be short lived. I hope this sheds some light on the markets and helps in your trading.

Chris Vermeulen

P.S. In the next few days members and myself will be looking to enter some trades based round this analysis. See Premium Trading Video & Newsletter

Sincerely,
Chris Vermeulen


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Currency Market Summary for Monday Morning June 2nd

The June U.S. Dollar was higher overnight. Stochastics and the RSI are overbought and are turning neutral to bearish hinting that a short term top might be in or is near. Closes below the 20 day moving average crossing at 80.06 are needed to confirm that a short term top has been posted. If June extends the rally off May's low, April's high crossing at 80.77 is the next upside target. First resistance is the overnight high crossing at 80.63. Second resistance is April's high crossing at 80.77. First support is the 20 day moving average crossing at 80.06. Second support is the reaction low crossing at 79.93.

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The June Euro was lower overnight. Stochastics and the RSI are oversold and are turning neutral to bullish hinting that a short term low might be in or is near. Closes above the 20 day moving average crossing at 137.16 are needed to confirm that a low has been posted. If June extends the decline off May's high, the 38% retracement level of the 2013-2014 rally crossing at 135.45 is the next downside target. First resistance is the 10 day moving average crossing at 136.43. Second resistance is the 20 day moving average crossing at 137.16. First support is last Wednesday's low crossing at 136.08. Second support is the 38% retracement level of the 2013-2014 rally crossing at 135.45.

The June British Pound was lower overnight. Stochastics and the RSI are turning neutral to bullish hinting that a short term low might be in or is near. Closes above the 20 day moving average crossing at 1.6830 would confirm that a short term low has been posted. If June extends the decline off May's high, the reaction low crossing at 1.6640 is the next downside target. First resistance is the 20 day moving average crossing at 1.6830. Second resistance is the reaction high crossing at 1.6919. First support is the reaction low crossing at 1.6640. Second support is the reaction low crossing at 1.6545.

The June Swiss Franc was lower overnight and is poised to extend the decline off May's high. Stochastics and the RSI are oversold and are turning neutral to bullish hinting that a short term low might be in or is near. Closes above the 20 day moving average crossing at 1.1240 are needed to confirm that a low has been posted. If June extends the aforementioned decline, the 75% retracement level of the January-March rally crossing at 1.1160 is the next downside target. First resistance is the 10 day moving average crossing at 1.1170. Second resistance is the 20 day moving average crossing at 1.1240. First support is last Wednesday's low crossing at 1.1124. Second support is the 75% retracement level of the January-March rally crossing at 1.1086.

The June Canadian Dollar was slightly lower overnight. Stochastics and the RSI are neutral signaling that sideways to higher prices are possible near term. If June renews the rally off March's low, the 38% retracement level of the 2013-2014 decline crossing at 92.96 is the next upside target. Closes below the 20 day moving average crossing at 91.85 are needed to confirm that a short term top has been posted. First resistance is the reaction high crossing at 92.40. Second resistance is the 38% retracement level of the 2013-2014 decline crossing at 92.96. First support is the 20 day moving average crossing at 91.85. Second support is the reaction low crossing at 90.35.

The June Japanese Yen was lower overnight. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near term. From a broad perspective, June needs to close above .9930 or below .9598 to confirm a breakout of a four month old trading range. First resistance is May's high crossing at .9920. Second resistance is February's high crossing at .9930. First support is the reaction low crossing at .9771. Second support is May's low crossing at .9687.

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Currency/Forex Market Summary for Wednesday April 30th

The June U.S. Dollar posted a key reversal down on Wednesday. The low range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near term. If June renews the decline off April's high, weekly support crossing at 78.91 is the next downside target. Closes above the 20 day moving average crossing at 79.96 are needed to confirm that a double bottom with March's low has been posted. First resistance is the 20 day moving average crossing at 79.93. Second resistance is April's high crossing at 80.77. First support is March's low crossing at 79.37. Second support is weekly support crossing at 78.91.

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The June Euro closed higher on Wednesday while extending the trading range of the past three weeks. The high range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near term. If June renews the rally off April's low, March's high crossing at 139.66 is the next upside target. Closes below the reaction low crossing at 137.82 would confirm that a short term top has been posted. First resistance is the reaction high crossing at 139.03. Second resistance is March's high crossing at 139.66. First support is the reaction low crossing at 137.82. Second support is April's low crossing at 136.69.

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The June British Pound closed higher on Wednesday as it extends this year's rally. The high range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are overbought , diverging but remain neutral to bullish signaling that sideways to higher prices are possible near term. If June extends the rally off March's low, weekly resistance crossing at 1.7043 is the next upside target. Multiple closes below the 20 day moving average crossing at 1.6744 would confirm that a short term top has been posted. First resistance is today's high crossing at 1.6895. Second resistance is weekly resistance crossing at 1.7043. First support is the 20 day moving average crossing at 1.6744. Second support is the reaction low crossing at 1.6640.

The June Swiss Franc closed higher on Wednesday. The high range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near term. If June renews the rally off April's low, March's high crossing at .11503 is the next upside target. If June renews the decline off April's high, April's low crossing at 1.1175 is the next downside target. First resistance is April's high crossing at .11443. Second resistance is March's high crossing at .11503. First support is last Tuesday's low crossing at .11289. Second support is the 62% retracement level of the January-March rally crossing at .11160.

The June Canadian Dollar closed slightly higher on Wednesday. The high range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near term. If June extends this week's rally, April's high crossing at 91.95 is the next upside target. If June renews the decline off April's high, the reaction low crossing at 89.45 is the next downside target. First resistance is April's high crossing at 91.95. Second resistance is the 38% retracement level of the 2013-2014 decline crossing at 92.96. First support is last Tuesday's low crossing at 90.43. Second support is April's low crossing at 88.45.

The June Japanese Yen closed higher on Wednesday. Today's high range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near term. If June renews the rally off April's low, February's high crossing at .9930 is the next upside target. If June renews the decline off April's high, April's low crossing at .9598 is the next downside target. First resistance is March's high crossing at .9886. Second resistance is February's high crossing at .9930. First support is Tuesday's low crossing at .9732. Second support is April's low crossing at .9598.

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Currency Market Summary for Good Friday April 18th

The June U.S. Dollar closed slightly higher due to short covering on Thursday. 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 neutral to bullish signaling that sideways to higher prices are possible near term. Closes above the 20 day moving average crossing at 80.07 would confirm that a double bottom with March's low has been posted. If June renews this month's decline, weekly support crossing at 78.91 is the next downside target. First resistance is the 20 day moving average crossing at 80.07. Second resistance is April's high crossing at 80.77. First support is last Thursday's low crossing at 79.38. Second support is weekly support crossing at 78.91.


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The June Euro closed slightly lower on Thursday. 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 neutral to bearish signaling that a short term top might be in or is near. Closes below the 20 day moving average crossing at 137.95 would confirm that a short term top has been posted. If June renews last week's rally, March's high crossing at 139.66 is the next upside target. First resistance is last Friday's high crossing at 139.03. Second resistance is March's high crossing at 139.66. First support is the 20 day moving average crossing at 137.95. Second support is April's low crossing at 136.69.

The June British Pound closed slightly lower on Thursday but not before posting a new high for the year. 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 diverging but are turning neutral to bullish signaling that sideways to higher prices are possible near term. If June extends the rally off March's low, weekly resistance crossing at 1.7043 is the next upside target. Multiple closes below the 20 day moving average crossing at 1.6650 would confirm that a short term top has been posted. First resistance is today's high crossing at 1.6834. Second resistance is weekly resistance crossing at 1.7043. First support is the 20 day moving average crossing at 1.6650. Second support is the reaction low crossing at 1.6545.

The June Swiss Franc closed lower due to profit taking on Thursday as it consolidates some of the rally off April's low. 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 bearish hinting that a short term top might be in or is near. Closes below the 20 day moving average crossing at .11326 are needed to confirm that a short term top has been posted. If June renews the rally off April's low, March's high crossing at .11503 is the next upside target. First resistance is last Friday's high crossing at .11443. Second resistance is March's high crossing at .11503. First support is the 20 day moving average crossing at .11326. Second support is the 62% retracement level of the January-March rally crossing at .11160.

The June Canadian Dollar closed slightly higher on Thursday. 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 bearish signaling that sideways to lower prices are possible near term. Closes below the 20 day moving average crossing at 90.55 are needed to confirm that a short term top has been posted. If June renews the rally off March's low, the 38% retracement level of the 2013-2014 decline crossing at 92.96 is the next upside target. First resistance is last Wednesday's high crossing at 91.95. Second resistance is the 38% retracement level of the 2013-2014 decline crossing at 92.96. First support is the 20 day moving average crossing at 90.55. Second support is April's low crossing at 88.45.

The June Japanese Yen closed lower on Thursday. Today's low range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI have turned neutral to bearish hinting that a short term top might be in or is near. Closes below the 20 day moving average crossing at .9763 would confirm that a short term top has been posted. If June renews this month's rally, February's high crossing at .9930 is the next upside target. First resistance is March's high crossing at .9886. Second resistance is February's high crossing at .9930. First support is the 20 day moving average crossing at .9763. Second support is this month's low crossing at .9598.

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Currency Market Update for Week Ending March 7th

The June U.S. Dollar closed higher due to short covering on Friday. 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 neutral to bearish signaling that sideways to lower prices are possible near term. If June extends the decline off February's high, monthly support crossing at 78.91 is the next downside target. Closes above the 20 day moving average crossing at 80.50 are needed to confirm that a short term low has been posted. First resistance is the 20 day moving average crossing at 80.37. Second resistance is the reaction high crossing at 80.74. First support is today's low crossing at 79.59. Second support is monthly support crossing at 78.91.

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The June Euro closed slightly higher 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 diverging but are neutral to bullish signaling that sideways to higher prices are possible near term. If June extends the rally off February's low, monthly resistance crossing at 142.12 is the next upside target. Closes below the 20 day moving average crossing at 137.23 are needed to confirm that a short term top has been posted. First resistance is today's high crossing at 139.13. Second resistance is monthly resistance crossing at 142.12. First support is the 20 day moving average crossing at 137.23. Second support is the reaction low crossing at 136.44.

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The June British Pound closed lower on Friday as it extends the trading range of the past three weeks. 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 hinting that sideways to lower prices are possible near term. Closes below the 20 day moving average crossing at 1.6631 would confirm that a short term top has been posted. If June resumes the rally off February's low, monthly resistance crossing at 1.7043 is the next upside target. First resistance is February's high crossing at 1.6805. Second resistance is monthly resistance crossing at 1.7043. First support is the 20 day moving average crossing at 1.6631. Second support is February's low crossing at 1.6239.

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The June Swiss Franc closed higher on Friday as it extends this winter's rally. The mid range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are diverging but have turned bullish signaling that sideways to higher prices are possible near term. If June extends the rally off January's low, weekly resistance crossing at .11615 is the next upside target. Closes below the 20 day moving average crossing at .11259 would confirm that a short term top has been posted. First resistance is today's high crossing at .11443. Second resistance is weekly resistance crossing at .11615. First support is the 20 day moving average crossing at .11259. Second support is the reaction low crossing at .11209.

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The June Canadian Dollar 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 neutral to bullish hinting that a short term low might be in or is near. If June extends this week's rally, February's high crossing at 91.38 is the next upside target. If June renews the decline off February's high, February's low crossing at 88.85 is the next downside target. First resistance is February's high crossing at 91.38. Second resistance is the 25% retracement level of the September-January decline crossing at 91.69 . First support is the reaction low crossing at 89.10. Second support is February's low crossing at 88.85.

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The June Japanese Yen closed lower on Friday as it extends this week's downside breakout of February's trading range. Today's mid range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near term. If June extends the decline off February's high, the reaction low crossing at .9548 is the next downside target. Closes above the 10 day moving average crossing at .9778 would confirm that a short term low has been posted. First resistance is the 10 day moving average crossing at .9778. Second resistance is the 50% retracement level of the October-January decline crossing at .9817. Second resistance is the 62% retracement level of the October-January decline crossing at .10017. First support is today's low crossing at .9641. Second support is the reaction low crossing at .9548.

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Currency Market Summary for Week Ending February 28th

The March Dollar closed sharply lower on Friday as it renewed February'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 diverging but turning neutral to bearish signaling that additional weakness is possible near term. If March extends the decline off February's high, December's low crossing at 79.50 is the next downside target. Closes above the 20 day moving average crossing at 80.49 are needed to confirm that a short term low has been posted. First resistance is the 20 day moving average crossing at 80.49. Second resistance is the reaction high crossing at 80.91. First support is today's low crossing at 79.70. Second support is December's low crossing at 79.50.

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The March Euro closed higher on Friday as it renews the rally off February's low. 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 diverging but turning neutral to bullish signaling that sideways to higher prices are possible near term. If March extends the rally off February's low, December's high crossing at 138.93 is the next upside target. Closes below the 20 day moving average crossing at 136.59 are needed to confirm that a short term top has been posted. First resistance is today's high crossing at 138.26. Second resistance is December's high crossing at 138.93. First support is the 20 day moving average crossing at 136.59. Second support is the reaction low crossing at 135.62.

The March British Pound closed higher on Friday as it extends the trading range of the past two weeks. 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 turning neutral to bullish signaling that sideways to higher prices are possible near term. If March resumes the rally off February's low, monthly resistance crossing at 1.7043 is the next upside target. Closes below the 20 day moving average crossing at 1.6550 would confirm that a short term top has been posted. First resistance is last Tuesday's high crossing at 1.6821. Second resistance is monthly resistance crossing at 1.7043. First support is the 20 day moving average crossing at 1.6550. Second support is February's low crossing at 1.6247.

The March Swiss Franc closed higher on Friday and posted a new contract high. 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 January's low, weekly resistance crossing at .11615 is the next upside target. Closes below the 20 day moving average crossing at .11187 would confirm that a short term top has been posted. First resistance is today's high crossing at .11398. Second resistance is weekly resistance crossing at .11615. First support is the 20 day moving average crossing at .11187. Second support is the reaction low crossing at .11067.

The March Canadian Dollar closed higher on Friday. 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 turning neutral to bullish hinting that a short term low might be in or is near. Multiple closes above the 20 day moving average crossing at 90.34 are needed to temper the near term bearish outlook. If March renews the decline off last week's high, February's low crossing at 88.99 is the next downside target. First resistance is last Wednesday's high crossing at 91.60. Second resistance is the 38% retracement level of the September-January decline crossing at 92.32 . First support is last Friday's low crossing at 89.27. Second support is this month's low crossing at 88.99.

The March Japanese Yen closed higher on Friday as it extends the trading range of the past three weeks. Today's high range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI have turned bullish signaling that sideways to higher prices are possible near term. If March renews the rally off January's low, the 62% retracement level of the October-January decline crossing at .10026 is the next upside target. If March renews the decline off February's high, the reaction low crossing at .9672 is the next downside target. First resistance is the 50% retracement level of the October-January decline crossing at .9920. Second resistance is the 62% retracement level of the October-January decline crossing at .10026. First support is last Friday's low crossing at .9725. Second support is the reaction low crossing at .9672.

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Mid Week Currency and Forex Market Summary

The March U.S. Dollar closed lower on Tuesday. The mid range close sets the stage for a steady opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that additional weakness is possible near term. If March resumes this month's decline, the reaction low crossing at 79.82 is the next downside target. Closes above the 20 day moving average crossing at 80.62 are needed to confirm that a short term low has been posted. First resistance is the 20 day moving average crossing at 80.62. Second resistance is the reaction high crossing at 80.91. First support is last Wednesday's low crossing at 79.95. Second support is the reaction low crossing at 79.82.

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The March Euro closed slightly higher on Tuesday. The mid range close sets the stage for a steady opening when Wednesday'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 aforementioned rally, the reaction high crossing at 138.34 is the next upside target. Closes below the 20 day moving average crossing at 136.42 would confirm that a short term top has been posted. First resistance is last Wednesday's high crossing at 137.73. Second resistance is the reaction high crossing at 138.34. First support is the 20 day moving average crossing at 136.42. Second support is the reaction low crossing at 135.62.

The March British Pound closed higher on Tuesday. The mid range close sets the stage for a steady opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bearish hinting that a short term top might be in or is near. Closes below the 20 day moving average crossing at 1.6527 would confirm that a short term top has been posted. If March resumes the rally off February's low, monthly resistance crossing at 1.7043 is the next upside target. First resistance is last Tuesday's high crossing at 1.6821. Second resistance is monthly resistance crossing at 1.7043. First support is the 20 day moving average crossing at 1.6527. Second support is February's low crossing at 1.6247.

The March Swiss Franc closed higher on Tuesday. The high range close sets the stage for a steady to higher opening when Wednesday'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 this month's rally, December's high crossing at .11373 is the next upside target. Closes below the 20 day moving average crossing at .11165 would confirm that a short term top has been posted. First resistance is Monday's high crossing at .11301. Second resistance is December's high crossing at .11373. First support is the 10 day moving average crossing at .11222. Second support is the 20 day moving average crossing at .11165.

The March Canadian Dollar closed lower on Tuesday. The low range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near term. If March renews last week's decline, this month's low crossing at 88.99 is the next downside target. Closes above the 10 day moving average crossing at 90.55 would temper the near-term bearish outlook. First resistance is last Wednesday's high crossing at 91.60. Second resistance is the 38% retracement level of the September-January decline crossing at 92.32 . First support is last Friday's low crossing at 89.27. Second support is this month's low crossing at 88.99.

The March Japanese Yen closed higher on Tuesday. Today's high range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. If March renews the rally off January's low, the 62% retracement level of the October-January decline crossing at .10026 is the next upside target. If March extends this month's decline, the reaction low crossing at .9672 is the next downside target. First resistance is the 50% retracement level of the October-January decline crossing at .9920. Second resistance is the 62% retracement level of the October-January decline crossing at .10026. First support is last Friday's low crossing at .9725. Second support is the reaction low crossing at .9672.

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This Weeks Currency and Forex Market Summary

The March U.S. Dollar 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 turning neutral to bullish signaling that a short term low might be in or is near. Closes above the 20 day moving average crossing at 80.67 would confirm that a short term low has been posted. If March resumes this month's decline, the reaction low crossing at 79.82 is the next downside target. First resistance is the 20 day moving average crossing at 80.67. Second resistance is the reaction high crossing at 81.44. First support is Wednesday's low crossing at 79.95. Second support is the reaction low crossing at 79.82.

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The March Euro closed higher on Friday. 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 are turning neutral to bearish hinting that a short term top might be in or is near. Closes below the 20 day moving average crossing at 136.36 would confirm that a short term top has been posted. If March extends the aforementioned rally, the reaction high crossing at 138.34 is the next upside target. First resistance is Wednesday's high crossing at 137.73. Second resistance is the reaction high crossing at 138.34. First support is the 20 day moving average crossing at 136.36. Second support is the reaction low crossing at 135.62.

The March British Pound closed lower on Friday as it consolidates some of this month's rally. The low range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI have turned bearish hinting that a short term top might be in or is near. Closes below the 20 day moving average crossing at 1.6513 would confirm that a short term top has been posted. If March resumes the rally off last week's low, monthly resistance crossing at 1.7043 is the next upside target. First resistance is Tuesday's high crossing at 1.6821. Second resistance is monthly resistance crossing at 1.7043. First support is the 20 day moving average crossing at 1.6513. Second support is February's low crossing at 1.6247.

The March Swiss Franc closed higher on Friday. 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 this month's rally, December's high crossing at .11373 is the next upside target. Closes below the 20 day moving average crossing at .11155 would confirm that a short term top has been posted. First resistance is Wednesday's high crossing at .11294. Second resistance is December's high crossing at .11373. First support is the 10 day moving average crossing at .11199. Second support is the 20 day moving average crossing at .11155.

The March Canadian Dollar closed lower on Friday as it extends this week's decline. 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 bearish signaling that sideways to lower prices are possible near term. If March extends this week's decline, this month's low crossing at 88.99 is the next downside target. Closes above the 10 day moving average crossing at 90.60 would confirm that a low has been posted. If March resumes this month's rally, the 38% retracement level of the September-January decline crossing at 92.32 is the next upside target. First resistance is Wednesday's high crossing at 91.60. Second resistance is the 38% retracement level of the September-January decline crossing at 92.32. First support is today's low crossing at 89.27. Second support is this month's low crossing at 88.99.

The March Japanese Yen closed lower on Friday. Today's mid-range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near term. Multiple closes below the 20 day moving average crossing at .9786 are needed to confirm that a short term top has been posted. If March renews the rally off January's low, the 62% retracement level of the October-January decline crossing at .10026 is the next upside target. First resistance is the 50% retracement level of the October-January decline crossing at .9920. Second resistance is the 62% retracement level of the October-January decline crossing at .10026. First support is today's low crossing at .9725. Second support is the reaction low crossing at .9672.


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Mid Week Currency Market Commentary - U.S. Dollar, Euro, British Pound, Swiss Franc, Canadian Dollar, Yen - for Tuesday Evening December 3rd

The U.S. Dollar closed lower on Tuesday. The low range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near term. If March renews the rally off October's low, the 50% retracement level of the July-October decline crossing at 82.26 is the next upside target. If March extends the decline off November's high, the November 1st gap crossing at 79.98 is the next downside target. First resistance is the 38% retracement level of the July-October decline crossing at 81.57. Second resistance is the 50% retracement level of the July-October decline crossing at 82.26. First support is last Tuesday's low crossing at 80.67. Second support is the November 1st gap crossing at 79.98.

The March Euro closed higher on Tuesday and the high range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are overbought and are turning neutral to bearish hinting that a short term top might be in or is near. Closes below the 20 day moving average crossing at 134.95 are needed to confirm that the rally off November's low has ended. If March extends the rally off November's low, the reaction high crossing at 137.05 is the next upside target. First resistance is last Friday's high crossing at 136.23. Second resistance is the reaction high crossing at 137.05. First support is the 20 day moving average crossing at 134.95. Second support is the reaction low crossing at 134.02.

The March British Pound posted an inside day with a higher close on Tuesday leaving yesterday's downside reversal unconfirmed at this time. The high range close sets the stage for a steady to higher opening when Wednesday'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 November's low, monthly resistance crossing at 1.6738 is the next upside target. Closes below the 20 day moving average crossing at 1.6120 would confirm that a short term top has been posted. First resistance is Monday's high crossing at 1.6427. Second resistance is monthly resistance crossing at 1.6738. First support is the 10 day moving average crossing at 1.6219. Second support is the 20 day moving average crossing at 1.6120.

The March Swiss Franc closed higher on Tuesday as it extends the rally off November's low. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are overbought but are turning neutral to bearish hinting that a short term top might be in or is near. Closes below the 20 day moving average crossing at .10964 would confirm that a short term top has been posted. If March extends the aforementioned rally, the reaction high crossing at .11156 is the next upside target. First resistance is last Friday's high crossing at .11081. Second resistance is the reaction high crossing at .11156. First support is the reaction low crossing at .10891. Second support is November's low crossing at .10829.

The March Canadian Dollar closed lower on Tuesday and below key support marked by July's low crossing at 93.60 as it extends the decline off September's high. The mid-range close sets the stage for a steady opening when Wednesday'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 this fall's decline, weekly support crossing at 92.13 is the next downside target. Closes above the 20 day moving average crossing at 94.86 would confirm that a short term low has been posted. First resistance is the 10 day moving average crossing at 94.43. Second resistance is the 20 day moving average crossing at 94.86. First support is today's low crossing at 93.45. Second support is weekly support crossing at 92.13.

The March Japanese Yen posted a key reversal up on Tuesday after spiking below key support marked by May's low crossing at .9710. The high range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Additional strength on Wednesday is needed to confirm today's key reversal up. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If March extends the decline off October's high, weekly support crossing at .9640 is the next downside target. Closes above the 20 day moving average crossing at .9967 are needed to confirm that a short term low has been posted. First resistance is the 10 day moving average crossing at .9854. Second resistance is the 20 day moving average crossing at .9967. First support is today's low crossing at .9680. Second support is weekly support crossing at .9640.

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