The March Euro currency closed up 52 points at 1.3593 today. Prices closed nearer the session high and closed at a fresh four-week high close today. Bulls have the near-term technical advantage in the Euro. Euro bulls’ next upside price breakout objective is pushing and closing prices above solid technical resistance at 1.3700. The next downside price breakout objective for the bears is closing prices below solid chart support at 1.3400. First resistance for the Euro lies at last week’s high of 1.3623 and then at 1.3700. Next support is seen at today’s low of 1.3526 and then at 1.3500. Wyckoff’s Market Rating: 6.0
The March Japanese yen closed up 71 points at .9777 today. Prices closed nearer the session high and hit a fresh contract low early on today. Prices scored a bullish “outside day” up on the daily bar chart, on short covering. If there is good follow-through buying on Wednesday, then a bullish “key reversal” up on the daily bar chart would be confirmed. That would be an early clue that a market low is in place. But right now the bears still have the solid overall near-term technical advantage. Prices are in a steep two-month-old downtrend on the daily bar chart. Bulls’ next upside price breakout objective is closing prices above solid resistance at .9900. Bears’ next downside breakout objective is closing prices below solid technical support at .9600. First resistance is seen at today’s high of .9813 and then at .9900. First support is seen at .9700 and then at today’s contract low of .9680. Wyckoff’s Market Rating: 1.5
The March Swiss franc closed up 53 points at 1.1069 today. Prices closed nearer the session high and hit a fresh four-month high today. The bulls have the near-term technical advantage. The next upside price breakout objective for the bulls is closing prices above solid resistance at 1.1100. The next downside price breakout objective for the bears is closing prices below solid technical support at the November low of 1.0829. First resistance is seen at today’s high of 1.1096 and then at 1.1156. First support is seen at 1.1000 and then at 1.0979. Wyckoff’s Market Rating: 6.5
The March Australian dollar closed up 37 points at .9075 today. Prices closed nearer the session high on short covering. The bears still have the overall near-term technical advantage. Prices are in a six-week-old downtrend. Bulls’ next upside price breakout objective is closing prices above solid chart resistance at last week’s high of .9375. The next downside breakout objective for the bears is to produce a close below solid technical support at .8800. First resistance is seen at this week’s high of .9106 and then at last week’s high of .9136. Next support is seen at last week’s low of .8996 and then at .8950. Wyckoff’s Market Rating: 3.0
The March Canadian dollar closed down 16 points at .9363 today. Prices closed near mid-range and hit a fresh contract low today. Bears have the solid overall near-term technical advantage. Prices are in a 10-week-old downtrend on the daily bar chart. Bulls’ next upside price breakout objective is producing a close above chart resistance at .9475. The next downside price breakout objective for the bears is closing prices below solid technical support at .9250. First resistance is seen at today’s high of .9381 and then at .9400. First support is seen at today’s contract low of .9345 and then at .9300. Wyckoff’s Market Rating: 1.0
The March British pound closed up 45 points at 1.6382 today. Prices closed near mid-range and closed at a fresh contract high close today. Bulls have the solid overall near-term technical advantage. The next upside price breakout objective for the bulls is closing prices above solid technical resistance at 1.6500. Bears’ next downside technical breakout objective is closing prices below solid support at 1.6000. First resistance is seen at Monday’s contract high of 1.6427 and then at 1.6500. First support is seen at 1.6300 and then at 1.6265. Wyckoff’s Market Rating: 8.0
The March U.S. dollar index closed down 0.340 at 80.780 today. Prices closed nearer the session low. The greenback bears still have the overall near-term technical advantage amid choppy trading. The bulls’ next upside price breakout objective is to close prices above solid technical resistance at the November high of 81.735. The next downside price breakout objective for the bears is to produce a close below solid technical support at 80.000. Next resistance lies at 81.000 and then at today’s high of 81.185. First support is seen at last week’s low of 80.675 and then at 80.500. Wyckoff’s Market Rating: 3.0
