CURRENCIES
The September Euro currency closed down 35 points at 1.3095 today. Prices closed nearer the session low today and closed at a fresh three-week low close. Bears have the overall near-term technical advantage. Euro bulls’ next upside price breakout objective is pushing and closing prices above solid technical resistance at 1.3250. The next downside price breakout objective for the bears is closing prices below solid chart support at 1.3000. First resistance for the Euro lies at today’s high of 1.3156 and then at 1.3200. Next support is seen at this week’s low of 1.3065 and then at 1.3025. Wyckoff’s Market Rating: 4.0
The September Japanese yen closed down 5 points at 1.0234 today. Prices closed nearer the session low today as the bulls have faded. Bears have the overall near-term technical advantage. Bulls’ next upside price breakout objective is closing prices above solid resistance at the June high of 1.0669. Bears’ next downside breakout objective is closing prices below solid technical support at 1.0000. First resistance is seen at today’s high of 1.0318 and then at 1.0400. First support is seen at this week’s low of 1.0136 and then at 1.0100. Wyckoff’s Market Rating: 3.0.
The September Swiss franc closed down 55 points at 1.0674 today. Prices closed nearer the session low today and hit a two-week low. The bulls still have the slight near-term technical advantage but are fading a bit. The next upside price breakout objective for the bulls is closing prices above solid resistance at the June high of 1.0962. The next downside price breakout objective for the bears is closing prices below solid technical support at 1.0550. First resistance is seen at today’s high of 1.0739 and then at 1.0800. First support is seen at today’s low of 1.0636 and then at 1.0600. Wyckoff’s Market Rating: 5.5.
The September Australian dollar closed down 7 points at .9209 today. Prices closed nearer the session high. Prices Monday hit another contract low. The bears have the solid overall near-term technical advantage. Bulls’ next upside price breakout objective is closing prices above solid chart resistance at .9500. The next downside breakout objective for the bears is to produce a close below solid technical support at .9000. First resistance is seen at .9300 and then at .9350. Next support is seen at the contract low of .9092 and then at .9050. Wyckoff’s Market Rating: 1.0
The September Canadian dollar closed down 17 points at .9494 today. Prices closed near mid-range today and closed at a fresh contract low close. Bears have the solid near-term technical advantage and have gained downside momentum. Bulls’ next upside price breakout objective is producing a close above chart resistance at .9600. The next downside price breakout objective for the bears is closing prices below solid technical support at .9300. First resistance is seen at today’s high of .9543 and then at .9573. First support is seen at the contract low of .9453 and then at .9400. Wyckoff’s Market Rating: 1.0.
The September British pound closed down 14 points at 1.5421 today. Prices closed near mid-range. Bulls have faded and are back on a level near-term technical playing field with the bears. The next upside price breakout objective for the bulls is closing prices above solid technical resistance at the June high of 1.5743. Bears’ next downside technical breakout objective is closing prices below solid support at 1.5250. First resistance is seen at today’s high of 1.5470 and then at 1.5523. First support is seen at this week’s low of 1.5335 and then at 1.5300. Wyckoff’s Market Rating: 5.0.
The September U.S. dollar index closed up .177 at 82.810 today. Prices closed nearer the session high today. The bulls have the slight near-term technical advantage and still have upside momentum. Bulls’ next upside price breakout objective is to close prices above solid technical resistance at the April high of 83.750. The next downside price breakout objective for the bears is to produce a close below solid technical support at the June low of 80.615. Next resistance lies at this week’s high of 83.050 and then at 83.250. First support is seen at today’s low of 82.440 and then at 82.000. Wyckoff’s Market Rating: 5.5.
