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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One Simple Way to Not Worry About These Crumbling Markets

Sure, if you have mutual fund or stock holding the market correction well underway and big plunge matters. However, this is no better evidence than why you need to diversify into forex. While the stock markets plunged, forex trading was doing quite well.

Register for the Dynamic Swing Trader webinars next week and learn how you can do it as well - I'd like to see you there:

Wednesday, August 26th @ 12pm ET/9am PT, 4pm GMT  

Wednesday, August 26th @ 6pm ET/3pm PT, 10pm GMT 

NetPicks will demonstrate the performance of the Dynamic Swing Trader to you -- and show off a few of the recent trades. They just finished a very strong month in July and are looking strong to finish the year. You will see all the trades from August and new ones that have just started...check out the Forex Surge video if you missed it -- here you'll learn about how forex success comes in bunches.....See it Here 

The Dynamic Swing Trader is designed for trading in just a few minutes per day. That means you can trade all the best pairs including the EURUSD, GBPUSD, EURJPY, EURCAD, AUDUSD, GBPCAD, GBPJPY and many more.

However, you can do this AND have a life! Now that's a concept.

You're going to learn the trading method that is averaging 1,000+ pips per month, and periodically swings for the fences. I have never seen a system get as "hot" as the Dynamic Swing Trader when it's in the zone. Plus, it doesn't matter what the stock market is doing! Most importantly? We always do it with very controlled, preset risk. This is not the "get rich quick" garbage you see out there.

This is designed for serious traders who want real performance, but without the crazy time commitment of most quality systems. The next step is simple - pick the date and time that works for you this week and be sure to attend the webinar live in person:

Wednesday, August 26th @ 12pm ET/9am PT, 4pm GMT  

Wednesday, August 26th @ 6pm ET/3pm PT, 10pm GMT 

Can't wait to see you live in the webinars next week.

I know you are busy, but just give them 30-45 minutes to prove it to you. You'll be very glad you did and no matter what you'll leave a better, more educated and successful trader.

See you Wednesday!
The Forex Market Club


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See you in the markets putting this to work!
Ray @ the Forex Market Club

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This Weeks Currency and Forex Market Summary - Dollar, Euro, Yen, Pound and more!

The September Dollar closed higher on Friday as it consolidated some of the decline off last Friday'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 neutral to bearish signaling that sideways to lower prices are possible near term. If September renews the decline off August's high, the reaction low crossing at 95.55 is the next downside target. Closes above the 20 day moving average crossing at 97.33 would confirm that a low has been posted. First resistance is last Friday's high crossing at 98.42. Second resistance is the reaction high crossing at 99.16. First support is Wednesday's low crossing at 95.94. Second support is the reaction low crossing at 95.55.

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The September Euro closed lower on Friday as it consolidated some of the rally off July'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 neutral to bullish signaling that sideways to higher prices are possible near term. If September extends the rally off July's low, the reaction high crossing at 112.92 is the next upside target. Closes below the 20 day moving average crossing at 109.95 would temper the near term friendly outlook. First resistance is the reaction high crossing at 112.26. Second resistance is the reaction high crossing at 112.92. First support is August's low crossing at 108.52. Second support is July's low crossing at 108.28.

The September British Pound closed higher on Friday while extending the July-August trading range. 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 reaction high crossing at 1.5669 are needed to renew the rally off July's low. If September resumes the decline off June's high, July's low crossing at 1.5323 is the next downside target. First resistance is the reaction high crossing at 1.5669. Second resistance is June's high crossing at 1.5924. First support is last Friday's low crossing at 1.5419. Second support is July's low crossing at 1.5323.

The September Swiss Franc closed steady 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 bullish signaling that a low might be in or is near. Closes above the 20 day moving average crossing at 1.0309 are needed to confirm that a short term low has been posted. If September renews the decline off June's high, March's low crossing at 0.9966 is the next downside target. First resistance is the 20 day moving average crossing at 1.0309. Second resistance is the reaction high crossing at 1.0488. First support is Tuesday's low crossing at 1.0108. Second support is March's low crossing at 0.9966.

The September 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 turning 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 77.73 is the next upside target. If September resumes 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 77.73. Second resistance is the reaction high crossing at 78.96. First support is last Wednesday's low crossing at 75.66. Second support is weekly support crossing at 73.92.

The September Japanese Yen 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 bullish hinting that a low might be in or is near. Closes above the 20 day moving average crossing at .8056 are needed to confirm that a short term low has been posted. If September resumes the decline off July's high, June's low crossing at .7956 is the next downside target. First resistance is the 20 day moving average crossing at .8056. Second resistance is the reaction high crossing at .8134. First support is Wednesday's low crossing at .7984. Second support is June's low crossing at .7956.

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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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Free Webinar: The 5 Step Checklist You Can Use to Find the Next Hedge Fund Darlings

Our trading partner John Carter of Simpler Stocks and Options is back this Tuesday evening June 2nd at 8 pm eastern with another one of his game changing free trading webinars and the trading methods he is covering this time are soooo simple.

You probably already know that John's webinars are wildly popular and always fill to capacity so reserve your asap and log in 10 minutes early to guarantee you don't lose your seat to someone on the waiting list.

Register Today

In this Free Webinar John Carter is going to share....

 *  How do you find these stocks in today's unpredictable market

 *  The fundamental criteria every stock should meet before you buy

 *  The technical analysis tool that I almost named my first child after

 *  Why the market conditions are perfect for this opportunity right now

     And much more....

Just Click Here to Reserve Your Seat Right Now

John sent out a great free video as a primer for this event.....Watch it Here

See you Tuesday night,
The Forex Market Club



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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.