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Euro “EC” (Mar)
Coverage for March 20
A lot of energy was expended by gapping up Friday, and a retracement back to last week's prior highs at 1.3300 is likely next. Monday's open gapped down and fell slightly lower, but could still put in a bearish retest of Friday's high before filling the gap back to Thursday's close.
Resistance: 1.3435 and 1.3475Support: 1.3315 and 1.3275
British Pound “BP” (Mar)
Coverage for March 20
A retest of Friday's open was expected before sellers could retake control. Monday's opening gap up peaked only a little short of actually touching Friday's open, but eventually a dip filled the gap back to Friday's close. The inside day gave no signal for any trending either way, which often means that the next trending attempt will be false.
Resistance: 1.9455 and 1.9500Support: 1.9360 and 1.9300
Swiss Franc “SF” (Mar)
Coverage for March 20
A lot of energy was expended by gapping up Friday, and a retracement back to last week's prior highs at .8300 was likely next. Monday's open gapped down under prior highs and fell further to fulfill the pullback's target. If the setup has formed an Island Reversal, then there should be no more than one day's delay before extending sharply lower.
Resistance: .830 and .8365Support: .8275 and .8240
Japanese Yen “JY” (Mar)
Coverage for March 20
Friday's gap up was considered "ineffectually optimistic" and Monday's open gapped back down to retest last Thursday's close. There is no active signal either way, but it would be difficult to retest March's high if last week's lows are broken.
Resistance: .8640 and .8680Support: .8570 and .8515
Australian Dollar “AD” (Mar)
Coverage for March 20
A lot of energy was expended by gapping up Friday, making a retracement back to February's gap at .7910 likely. Monday's open gapped up anyway, but never extended higher intraday. This sequence can continue uninterrupted, but usually ends violently as there is no accumulation taking place.
Resistance: .7990 and .8020Support: .7940 and .7915
Canadian Dollar “CD” (Mar)
Coverage for March 20
Recent price action reflected too much optimism to suggest that it was accumulative. Monday's narrow ranging morning eventually broken lower to pierce last week's lows. The gap back to March's low close remains open and unfilled, and now likely to be filled before any rally can begin.
Resistance: .8530 and .8560Support: .8490 and .8475
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