Trader's Blog

DOW Rallies 570 Points In Big Turnaround

1 day ago

Predictive Modeling Suggests A New Gold Rally

3 days ago

Amazon Chart Presents Buying Opportunity

4 days ago

Interesting Start To 2021 For Cathie Wood And ARK Invest Funds

5 days ago

Gold & Silver: The King Fights Back

6 days ago

View more blog entries »

Currencies | Energy | Food | Grains | Indexes | Interest | Livestock | Metals

CURRENCIES:

The June Dollar closed higher on Friday extended the rally off February's low. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off February's low, the 38% retracement level of the September-January-decline crossing at 92.41 is the next downside target. Closes below the 50-day moving average crossing 90.45 would signal that a short-term top has been posted. First resistance is the today's high crossing at 92.21. Second resistance is the 38% retracement level of the September-January-decline crossing at 92.41. First support is the 50-day moving average crossing 90.45. Second support is February's low crossing 89.66.

The March Euro closed lower on Friday as it extended the decline off February's high. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the aforementioned decline, the 38% retracement level of the 2020-2021-rally crossing at 117.85 is the next downside target. Closes above the 50-day moving average crossing at 121.69 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 121.69. Second resistance is February's high crossing at 122.71. First support is today's low crossing at 119.19. Second support is the 38% retracement level of the 2020-2021-rally crossing at 117.85.

The June British Pound closed lower on Friday as it extends the decline off February's high. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the aforementioned decline, the 50-day moving average crossing at 1.3746 is the next downside target. Closes above the 10-day moving average crossing at 1.3991 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 1.3991. Second resistance is February's high crossing at 1.4245. First support is the 50-day moving average crossing at 1.3746. Second support is February's low crossing at 1.3586.

The June Swiss Franc closed lower on Friday as it extended the decline off January's high. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off January's high, the 62% retracement level of the March-January-rally crossing at 1.0738 is the next downside target. Closes above the 20-day moving average crossing at 1.1099 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 1.0984. Second resistance is the 20-day moving average crossing at 1.1099. First support is today's low crossing at 1.0759. Second support is the 62% retracement level of the March-January-rally crossing at 1.0738.

The June Canadian Dollar closed lower on Friday. The high-range close sets the stage for a steady to slightly lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 78.65 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. If June resumes the rally off January's low, the 87% retracement level of the 2018-2020-decline crossing at 80.52 is the next upside target. First resistance is last-Thursday's high crossing at 80.21. Second resistance is the 87% retracement level of the 2018-2020-decline crossing at 80.52. First support is the 50-day moving average crossing at 78.65. Second support is January's low crossing at 77.65.

The June Japanese Yen closed lower on Friday as it extended the decline off January's high. The mid-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off January's high, the 87% retracement level of the 2020-2021-rally crossing at 0.0920 is the next downside target. Multiple closes above the 20-day moving average crossing at 0.0945 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 0.0939. Second resistance is the 20-day moving average crossing at 0.0945. First support is today's low crossing at 0.0921. Second support is the 87% retracement level of the 2020-2021-rally crossing at 0.0920.