The March Euro currency closed up 33 points at 1.3493 yesterday. Prices closed near the session high, hit an 11-month high and scored a bullish “outside day” up on the daily bar chart yesterday. Bulls have the solid overall near-term technical advantage. Prices are in a 2.5-month-old uptrend on the daily bar chart. Euro bulls’ next upside price breakout objective is pushing and closing prices above solid technical resistance at 1.3600. The next downside price breakout objective for the bears is closing prices below solid chart support at 1.3250. First resistance for the Euro lies at yesterday’s high of 1.3503 and then at 1.3550. Next support is seen at yesterday’s low of 1.3418 and then at 1.3400. Wyckoff’s Market Rating: 8.0

The March Japanese yen closed up 1 point at 1.1024 yesterday. Prices closed near mid-range yesterday. Prices hit a contract low on Monday. Bears still have the solid overall near-term technical advantage. Prices are in a steep four-month-old downtrend on the daily bar chart. There are still no early clues of a market bottom being close at hand. Bulls’ next upside price breakout objective is closing prices above solid resistance at 1.1400. Bears’ next downside breakout objective is closing prices below solid technical support at 1.0800. First resistance is seen at 1.1100 and then at 1.1150. First support is seen at the contract low of 1.0961 and then at 1.0900. Wyckoff’s Market Rating: 1.0.

The March Swiss franc closed up 51 points at 1.0853 yesterday. Prices closed nearer the session high and hit a fresh two-week high yesterday. The Swissy bulls yesterday regained the slight near-term technical advantage. The next upside price breakout objective for the bulls is closing prices above solid resistance at 1.0986. The next downside price
breakout objective for the bears is closing prices below solid technical support at the January low of 1.0657. First resistance is seen at yesterday’s high of 1.0883 and then at 1.0900. First support is seen at 1.0800 and then at this week’s low of 1.0766. Wyckoff’s Market Rating: 5.5.

The March Australian dollar closed up 50 points at 1.0427 yesterday. Prices closed near the session high yesterday on some short covering and bargain hunting. Bulls have the overall near-term technical advantage. Bulls’ next upside price breakout objective is closing prices above solid chart resistance at the January high of 1.0547. The next downside breakout objective for the bears is to produce a close below solid technical support at the December low of 1.0281. First resistance is seen at yesterday’s high of 1.0434 and then at 1.0475. Next support is seen at yesterday’s low of 1.0368 and then at this week’s low of 1.0347. Wyckoff’s Market Rating: 6.5

The March Canadian dollar closed up 40 points at .9965 yesterday. Prices closed nearer the session high yesterday and saw more short covering after prices last Friday hit a six-month low. Bears have the overall near-term technical advantage. Bulls’ next upside price breakout objective is producing a close above chart resistance at 1.0100. The next downside price breakout objective for the bears is closing prices below solid technical support at .9800. First resistance is seen at yesterday’s high of .9970 and then at 1.0000. First support is seen at yesterday’s low of .9923 and then at this week’s low of .9889. Wyckoff’s Market Rating: 4.0.

The March British pound closed up 64 points at 1.5756 yesterday. Prices closed nearer the session high yesterday on short covering. Prices Monday hit a six-month low. Bears still have the overall near-term technical advantage. Prices are
in a steep four-week-old downtrend on the daily bar chart. The next upside price breakout objective for the bulls is closing prices above solid technical resistance at 1.6000. Bears’ next downside technical breakout objective is closing prices below solid support at 1.5500. First resistance is seen at this week’s high of 1.5791 and then at 1.5850. First support is seen at this week’s low of 1.5670 and then at 1.5600. Wyckoff’s Market Rating: 3.0.

The March U.S. dollar index closed down 26 points at 79.60 yesterday. Prices closed near the session low and hit a fresh two-week low yesterday. Not much new. The bears still have the solid overall near-term technical advantage. Bulls’ next upside price breakout objective is to close prices above solid technical resistance at 80.27. The next downside price breakout objective for the bears is to produce a close below solid technical support at the December low of 79.01. Next resistance lies at yesterday’s high of 79.93 and then at 80.00. First support is seen at yesterday’s low of 79.57 and then at the January low of 79.40. Wyckoff’s Market Rating: 2.0.