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Euro “EC” (Mar)
Coverage for January 30
Friday's "ineffectual pessimism" made a bounce the next likely move, but it didn't require Monday's open to gap down to new relative lows first. And because sellers weren't tested, the bounce is likely to resolve in a new downleg.
Resistance: 1.3015 and 1.3055Support: 1.2930 and 1.2900
British Pound “BP” (Mar)
Coverage for January 30
Monday's open needed to gap or spike down and extend down further through the morning to avoid a corrective bounce. But the open's gap down quickly bottomed before touching Friday's low. The balance of the session ranged narrowly around Friday's close, still having potential to resume the decline more forcibly.
Resistance: 1.9635 and 1.9670Support: 1.9560 and 1.9510
Swiss Franc “SF” (Mar)
Coverage for January 30
Monday's open needed to gap or spike down and extend down further through the morning to avoid a corrective bounce. But the open's gap down quickly bottomed before touching Friday's low. The balance of the session ranged narrowly around Friday's close, still having potential to resume the decline more forcibly.
Resistance: .8045 and .8095Support: .7995 and .7935
Japanese Yen “JY” (Mar)
Coverage for January 30
Once again, signs that the trend might be ending were only followed by a gap down. And once again, the gap down quickly ended the session's selling, without any meaningful recovery intraday. And this persistent downtrend probably isn't going to end without at least one session-long downtrend, and some follow-through.
Resistance: .8315 and .8355Support: .8215 and .8155
Australian Dollar “AD” (Mar)
Coverage for January 30
Any rally effort remained likely to resolve in lower lows, but Monday's open slid to a slightly lower low first. The balance of the session ranged back to Friday's close, but no new signal was generated.
Resistance: .7755 and .7790Support: .7695 and .7650
Canadian Dollar “CD” (Mar)
Coverage for January 30
Monday's open gapped down and spiked to a new relative low. The balance of the session ranged back above last week's lows, but still in negative territory. One more day's delay in rallying would start to be bearish.
Resistance: .8510 and .8550Support: .8465 and .8405
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