Currency Market Summary for Week Ending Friday May 15th

The June U.S. Dollar closed lower on Friday as it extends the decline off April'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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If June extends the decline off April's high, the 38% retracement level of the June-March rally crossing at 92.90 is the next downside target. Closes above the 20 day moving average crossing at 95.62 are needed to confirm that a short term low has been posted. First resistance is the 10 day moving average crossing at 94.48. Second resistance is the 20 day moving average crossing at 95.62. First support is Thursday's low crossing at 93.15. Second support is the 38% retracement level of the June-March rally crossing at 92.90.

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The June Euro closed higher on Friday as it extends the rally off April'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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near term. If June extends the rally off April's low, February's high crossing at 115.46 is the next upside target. Closes below the 20 day moving average crossing at 111.09 would confirm that a short term top has been posted. First resistance is today's high crossing at 114.72. Second resistance is the February's high crossing at 115.46. First support is the 20 day moving average crossing at 111.09. Second support is the reaction low crossing at 110.72.

The June British Pound closed lower due to profit taking on Friday 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near term. If June extends the rally off April's low, the 62% retracement level of the July-April decline crossing at 1.6121 is the next upside target. Closes below the 20 day moving average crossing at 1.5313 would confirm that a short term top has been posted. First resistance is the 50% retracement level of the July-April decline crossing at 1.5823. Second resistance is the 62% retracement level of the July-April decline crossing at 1.6121. First support is the 10 day moving average crossing at 1.5472. Second support is the 20 day moving average crossing at 1.5313.

The June Swiss Franc closed lower 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 diverging but are neutral to bullish signaling that sideways to higher prices are possible near term. If June renews the rally off April's low, the 62% retracement level of the January-March decline crossing at 1.1189 is the next upside target. Closes below the 20 day moving average crossing at 1.0691 would confirm that a short term top has been posted. First resistance is the reaction high crossing at 1.1037. Second resistance is the 62% retracement level of the January-March decline crossing at 1.1189. First support is the 20 day moving average crossing at 1.0691. Second support is the reaction low crossing at 1.0437.

The June Canadian Dollar closed lower due to profit taking 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 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 82.60 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 2013-2015 decline crossing at 84.82 is the next upside target. First resistance is Thursday's high crossing at 83.86. Second resistance is the 38% retracement level of the 2013-2015 decline crossing at 0.8482. First support is the 20-day moving average crossing at 82.60. Second support is the reaction low crossing at 81.20.

The June Japanese Yen closed slightly lower 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 bullish signaling that sideways to higher prices are possible near term. Closes above March's high crossing at .8460 are needed to renew the rally off March's low. Closes below the reaction low crossing at .8301 would open the door for additional weakness near term. First resistance is March's high crossing at .8460. Second resistance is February's high crossing at .8562. First support is April's low crossing at .8280. Second support is March's low crossing at .8205.

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 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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FMC: Currency/Forex Market Summary for Monday January 6th

The March Dollar closed lower due to profit taking on Monday as it consolidates some of the rally off December's low. 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 bullish signaling that sideways to higher prices are possible near term. Closes above the reaction high crossing at 81.00 would renew the rally off December's low and open the door for additional gains during January. Closes below the 20 day moving average crossing at 80.46 would temper the near term friendly outlook. First resistance is the reaction high crossing at 81.00. Second resistance is December's high crossing at 81.18. First support is the 20 day moving average crossing at 80.46. Second support is December's low crossing at 79.50.

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The March Euro closed higher due to short covering on Monday as it consolidated some of last week's decline. Today's high range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near term. If March extends last week's decline, the reaction low crossing at 135.26 is the next downside target. Closes above the 20 day moving average crossing at 137.16 are needed to confirm that a low has been posted. First resistance is the 20 day moving average crossing at 137.16. Second resistance is December's high crossing at 138.93. First support is today's low crossing at 135.71. Second support is the reaction low crossing at 135.26.

The March British Pound closed lower 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 turning bearish hinting that a short term top might be in or is near. Closes below the reaction low crossing at 1.6314 would confirm that a short term top has been posted. If March extends the rally off November's low, monthly resistance crossing at 1.6738 is the next upside target. First resistance is Tuesday's high crossing at 1.6572. Second resistance is monthly resistance crossing at 1.6738. First support is the reaction low crossing at 1.6314. Second support is the reaction low crossing at 1.6203.

The March Swiss Franc closed higher due to short covering on Monday but remains below November's broken uptrend line. 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 bearish signaling that sideways to lower prices is possible near term. If March extends last week's decline, the 38% retracement level of 2013's rally crossing at .10942 is the next downside target. Closes above the 20 day moving average crossing at .11210 would temper the near term bearish outlook. First resistance is the 20 day moving average crossing at .11210. Second resistance is December's high crossing at .11373. First support is today's low crossing at .11030. Second support is the 38% retracement level of 2013's rally crossing at .10942.

The March Canadian Dollar closed lower on Monday as it extends December's trading range. 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 bullish signaling that sideways to higher prices are possible near term. Closes above the reaction high crossing at 94.46 are needed to confirm an upside breakout of December's trading range has been posted. If March renews this fall's decline, weekly support crossing at 92.13 is the next downside target. First resistance is December's high crossing at 94.46. Second resistance is the reaction high crossing at 95.73. First support is December's low crossing at 92.93. Second support is weekly support crossing at 92.13.

The March Japanese Yen closed higher on Monday as it extended the short covering rally off last week's low. 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 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 .9632 are needed to confirm that a short term low has been posted. If March renews the decline off October's high, weekly support crossing at .9421 is the next downside target. First resistance is the 20 day moving average crossing at .9632. Second resistance is the reaction high crossing at .9793. First support is last Thursday's low crossing at .9486. Second support is weekly support crossing at .9421.

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