CURRENCIES
The June Euro currency closed up 69 points at 1.3170 today. Prices closed nearer the session high and hit a two-week high today. Bulls and bears are now on a level near-term technical playing field. Euro bulls’ next upside price breakout objective is pushing and closing prices above solid technical resistance at the April high of 1.3208. The next downside price breakout objective for the bears is closing prices below solid chart support at last week’s low of 1.2959. First resistance for the Euro lies at today’s high of 1.3191 and then at 1.3208. Next support is seen at 1.3100 and then at today’s low of 1.3057. Wyckoff’s Market Rating: 5.0
The June Japanese yen closed up 52 points at 1.0258 today. Prices closed near mid-range today. More tepid short covering has been featured. Bears still have the overall near-term technical advantage. Bulls’ next upside price breakout objective is closing prices above solid resistance at the mid-April high of 1.0383. Bears’ next downside breakout objective is closing prices below solid technical support at 1.0000. First resistance is seen at today’s high of 1.0312 and then at 1.0383. First support is seen at this week’s low of 1.0185 and then at 1.0100. Wyckoff’s Market Rating: 1.5
The June Swiss franc closed up 81 points at 1.0759 today. Prices closed nearer the session high on heavy short covering and bargain hunting. The bears still have the slight near-term technical advantage but the bulls have gained some upside momentum. The next upside price breakout objective for the bulls is closing prices above solid resistance at the April high of 1.0869. The next downside price breakout objective for the bears is closing prices below solid technical support at last week’s low of 1.0532. First resistance is seen at today’s high of 1.0783 and then at 1.0800. First support is seen at 1.0700 and then at today’s low of 1.0661. Wyckoff’s Market Rating: 4.5
The June Australian dollar closed up 9 points at 1.0329 today. Prices closed near mid-range today. Bulls and bears are now back on a level near-term technical playing field.Bulls’ next upside price breakout objective is closing prices above solid chart resistance at 1.0400. The next downside breakout objective for the bears is to produce a close below solid technical support at the April low of 1.0179. First resistance is seen at today’s high of 1.0350 and then at 1.0400. Next support is seen at today’s low of 1.0292 and then at this week’s low of 1.0234. Wyckoff’s Market Rating: 5.0
The June Canadian dollar closed up 33 points at .9915 today. Prices closed nearer the session high today and hit a fresh 2.5-month high. Prices also closed at a monthly high close today. Short covering and bargain hunting were featured. Bulls now have the slight near-term technical advantage. Bulls’ next upside price breakout objective is producing a close above chart resistance at 1.0000. The next downside price breakout objective for the bears is closing prices below solid technical support at this week’s low of .9820. First resistance is seen at today’s high of .9936 and then at .9975. First support is seen at today’s low of .9867 and then at .9850. Wyckoff’s Market Rating: 4.5
The June British pound closed up 41 points at 1.5527 today. Prices closed near mid-range today and hit a fresh 10-week high. Prices also closed at a bullish monthly high close today. Bulls have gained good upside technical momentum recently. Prices are in a seven-week-old uptrend on the daily bar chart. Bulls have the near-term technical advantage. The next upside price breakout objective for the bulls is closing prices above solid technical resistance at 1.5650. Bears’ next downside technical breakout objective is closing prices below solid support at last week’s low of 1.5192. First resistance is seen at today’s high of 1.5564 and then at 1.5600. First support is seen at today’s low of 1.5463 and then at 1.5400. Wyckoff’s Market Rating: 6.0
The June U.S. dollar index closed down .422 at 81.780 today. Prices closed nearer the session low today and hit a fresh two-month low. Prices also closed at a bearish monthly low close today. The bulls have lost their overall near-term technical advantage. 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 81.000. Next resistance lies at 82.000 and then at today’s high of 82.355. First support is seen at today’s low of 81.640 and then at 81.500. Wyckoff’s Market Rating: 5.0
