CURRENCIES: The June Euro currency closed down 53 points at 1.2998 yesterday. Prices closed near the session low and closed at a fresh three-month low close yesterday. The Euro bears have the overall near-term technical advantage and gained some fresh downside momentum yesterday. A five-week-old downtrend is in place on the daily bar chart. Euro bulls’ next upside price breakout objective is pushing and closing prices above solid technical resistance at last week’s high of 1.3325. The next downside price breakout objective for the bears is closing prices below solid chart support at 1.2900. First resistance for the Euro lies at this week’s high of 1.3086 and then at 1.3110. Next support is seen at last week’s low of 1.2979 and then at 1.2950. Wyckoff’s Market Rating: 4.0
The June Japanese yen closed down 91 points at 1.0635 yesterday. Prices closed near the session low yesterday. Bears have the solid overall near-term technical advantage. Bulls’ next upside price breakout objective is closing prices above solid resistance at the February high of 1.0114. Bears’ next downside breakout objective is closing prices below solid technical support at the contract low of 1.0600. First resistance is seen at yesterday’s high of 1.0760 and then at 1.0800. First support is seen at 1.0600 and then at 1.0550. Wyckoff’s Market Rating: 1.0.
The June Swiss franc closed down 70 points at 1.0560 yesterday. Prices closed near the session low yesterday. Prices are in a steep five-week-old downtrend on the daily bar chart. The Swissy bears have the near-term technical advantage. The next upside price breakout objective for the bulls is closing prices above solid resistance at 1.0700. The next downside price breakout objective for the bears is closing prices below solid technical support at 1.0500. First resistance is seen at 1.0600 and then at yesterday’s high of 1.0645. First support is seen at yesterday’s low of 1.0559 and then at 1.0500. Wyckoff’s Market Rating: 3.0.
The June Australian dollar closed down 4 points at 1.0160 yesterday. Prices closed near the session low yesterday. Bears still have the near-term technical advantage. Prices are still in a seven-week-old downtrend on the daily bar chart. Bulls’ next upside price breakout objective is closing prices above solid chart resistance at 1.0275. The next downside breakout objective for the bears is to produce a close below solid technical support at this week’s low of 1.0038. First resistance is seen at 1.0200 and then at yesterday’s high of 1.0221. Next support is seen at 1.0136 and then at 1.0100. Wyckoff’s Market Rating: 4.5
The June Canadian dollar closed down 35 points at .9672 yesterday. Prices closed nearer the session low and closed at a fresh eight-month low close yesterday. Prices are in a two-month-old downtrend on the daily bar chart. Bears have the solid near-term technical advantage. Bulls’ next upside price breakout objective is producing a close above chart resistance at .9760. The next downside price breakout objective for the bears is closing prices below solid technical support at .9600. First resistance is seen at .9700 and then at yesterday’s high of .9728. First support is seen at last week’s low of .9646 and then at .9600. Wyckoff’s Market Rating: 2.0.
The June British pound closed down 80 points at 1.5025 yesterday. Prices closed nearer the session low again yesterday. Bears have the solid overall near-term technical advantage. Prices are in a steep nine-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 1.5300. Bears’ next downside technical breakout objective is closing prices below solid support at 1.48000. First resistance is seen at yesterday’s high of 1.5140 and then at this week’s high of 1.5193. First support is seen at last week’s low of 1.4978 and 1.4900. Wyckoff’s Market Rating: 1.5.
The June U.S. dollar index closed up .383 points at 82.740 yesterday. Prices closed near the session high yesterday and closed at a fresh six-month high close. The bulls have the near-term technical advantage and gained fresh upside momentum yesterday. Prices are in a five-week-old uptrend on the daily bar chart. Bulls’ next upside price breakout objective is to close prices above solid technical resistance at 83.000. The next downside price breakout objective for the bears is to produce a close below solid technical support at last week’s low of 81.37. Next resistance lies at last week’s high of 82.795 and then at 83.000. First support is seen at 83.500 and then at this week’s low of 82.165. Wyckoff’s Market Rating: 6.5.
