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.

Watch a Replay of this Weeks Free Trading Webinar....Just Click Here

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.

Get out latest FREE eBooK "Understanding Options"....Just Click Here

Simple Strategy Alert: Premium Decay

We all think we know what premium decay is right? Well, I thought I knew how it worked until I watched this new video from our trading partner John Carter of Simpler Options. I never knew just how powerful and simple it was to apply knowledge of the decay principal to trading options.

Basically it's a way to insure the health of your portfolio even in an unhealthy market.

In this free video John shows us a simple and effective strategy for using premium decay, but he also shows you his strategy to make money on a stock whether it's going up or down.

Watch His Free Video Here

Here's a sample of what John will share with us.....

  *  How to “control” stocks for a fraction of the price so you don’t risk all your capital - How you can
      generate consistent returns being dead wrong

  *  What “premium decay” is and how you can use to it to give yourself an edge in trading

  *  How you can set up occasional home run trades while generating consistent returns

  *  A handful of the key stocks I look at every day so you don’t go bug eyed looking for stocks to trade


Don't miss the game changing video "Simple Strategy Alert: Premium Decay"....Watch Video Now

John Carter has become well known for his wildly popular free options trading webinars and his free options trading eBook that changed the way traders looked at options trading in 2014.

Download the free eBook Here, While you still can!

Professional trader and author John Carter gives the skinny on how HE does it

Curious how to grow a small trading account exponentially with less risk? Then you need to this free eBook - Understanding Options. Professional trader and author John Carter gives the skinny on how HE does it.

Complete Guide To Trading Options

Download the complete guide to understanding options...

Download

SIMPLER OPTIONS

Get out latest FREE eBooK "Understanding Options"....Just Click Here

Free Video Series: Enjoy all of John Carters Options Videos.....Before it's to Late

In 2014 our trading partner John Carter of Simpler Options changed the way traders look at trading options with his free and easy to understand videos and webinars that taught all of us how to put his methods to work.

In February John is preparing to do it all again by bringing us a new series and most likely all of his current videos will be taken offline. So we want to make sure you get to watch them all while you can.

Just click on the titles to access videos......

    My Favorite ways to Trade Options on ETF’s

    What the Market Makers Don’t Want You to Know

    High Frequency Trading….the effect the Rise of the Machines has on ...

    What's Behind the BIG Trade, How to Grow a Small Account into a Big...

Make sure to also get John's free eBook "Understanding Options" > Just Click Here

See you in the markets!

The Forex Market Club

New Video: 6 Simple Criteria that Guarantee Trading Success

Imagine building your own Black Box that will automatically spit out a short list of stocks and ETFs on the verge of explosive growth. Well now you can, because the Axiom Black Box secret to 90% winners is out!

Inside the Axiom Black Box of 90% Winners [video]

The six search criteria revealed in this video have remained a closely guarded secret for more than a decade…..which is why it’s called the Axiom Black Box.

And during that time, in live trading, the Axiom Black Box has…...

• Led to 9 out of 10 winning trades
• Produced 12 years of triple digit returns averaging 247.82% year
• NEVER earned less than 140%, after commissions, despite two major market melt downs

If earning stellar profits year after year is something you’re even the least bit interested in doing, click here now:

Inside the Axiom Black Box of 90% Winners [video]

This brief video is your blueprint for life changing success.  So please, take notes.

See you in the markets,

Ray @ the Forex Market Club

P.S.  As an added bonus, you’ll also receive a free ebook that reveals a little known price quirk that’s inherent to certain options and it can pay you instant profits of $1,000 or more.  

Click here for the automatic moneymaker sure to boost your bottom line

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.

We have activated the free "Dynamic Swing Trader"....Just Click Here

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.

Get out latest FREE eBooK "Understanding Options"....Just Click Here

What's the One Thing Standing in the Way of Your Success?

Our trading partners at Netpicks have just sent over their new system they are going to use in 2015 and this looks good. What if you could get your hands on one simple indicator that literally has doubled and in some cases tripled the profitability of a forex trading system? What if it came without any out of pocket to you?

No changes - the exact same trading system but adding this one simple indicator literally wiped out numerous losing trades and ensured a much higher winning percentage.

That has done wonders for the bottom line of this system and literally it could have the same impact on any trading system you are working with now or have considered.

You really need to pick this up today. You can get the full scoop....Just Click Here

Double or Even Triple Your Profits
Simply look at your chart and know instantly when to trade and when to pass on any trade, any trading system

Decrease Trading, Work Less, Keep More
By learning to eliminate trades you'll spend less in commissions, have more free time and prevent those costly mistakes

Works with Ease on Any Trading System
You'll be able to implement the Dynamic Profit Detector with ease on your chart and easily determine the best trades...and those to avoid. Forex? Futures? Stocks? ETFs? YES!

There are zero obligations or costs. That's right, it's free. It simply takes a few minutes to download and install and you'll see the markets completely differently than you have before.

Who wouldn't want to have a shot at doubling or tripling success? I already grabbed mine, so take advantage while it's available.

Download the "Dynamic Swing Trader" now

See you in the markets,
Ray @ the Forex Market Club



Get our latest FREE eBooK "Understanding Options"....Just Click Here