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Currencies
Euro “EC” (Jun)
Coverage for March 27.An overnight slide stopped short of the pullback limit at Mar 15's 1.3280 close. This prevented an Island reversal from forming, and allowed buyers to reject the open's drop with a steep rally into mid-morning. The rally never extended higher, although the balance of the session ranged narrowly and optimistically at the morning's highs. The gap back to Monday's open will need to be filled.Resistance: 1.3405 and 1.3450Support: 1.3335 and 1.3310
British Pound “BP” (Jun)
Coverage for March 27.Friday's complete retracement of Wednesday's FOMC-surge was followed by Monday's opening surge to higher highs. At least, to a probe of higher highs. Last week's high was still being tested and probably holding as resistance at Monday's close. Buyers didn't gain any traction from Monday's surge, but sellers haven't retaken control.Resistance: 1.9720 and 1.9775Support: 1.9635 and 1.9580
Swiss Franc “SF” (Jun)
Coverage for March 27.Friday's pattern left no active signal either way. That didn't prevent Monday's open from gapping down sharply, but it may have enticed sellers to reject the drop with a surge well into positive territory through mid-morning. The balance of the session ranged sideways off the highs, but in positive territory. The gap back to Monday's open will need to be filled eventually, but there is no signal or requirement to do so immediately.Resistance: .8315 and .8345Support: .8265 and .8240
Japanese Yen “JY” (Jun)
Coverage for March 27.Any weakness at Monday's open would have been credible for extending down sharply through the day. Monday's open did gap down to probe a new low but never gained traction. A spike up into positive territory preceded a close that was almost unchanged on the day. The recovery didn't extend or remain high enough to consider it a rejection of the open's drop, which remains vulnerable to being retested and broken.Resistance: .8575 and .8625Support: .8535 and .8470
Australian Dollar “AD” (Jun)
Coverage for March 27.There was no active signal either way after Friday's session. Monday's open quickly surged to new highs and quickly peaked, ranging sideways narrowly at new highs into the close. At least a slightly higher high is likely in this sequence, and only a negative close would then signal momentum reversing down.Resistance: .8105 and .8145Support: .8320 and .7990
Canadian Dollar “CD” (Jun)
Coverage for March 27.Sellers might have gained traction Friday, or at least enough to trigger a deeper correction down, so long as Friday's ~.8675 high were not recovered on a closing basis. Monday's open gapped down, and a recovery into positive territory was rejected by the afternoon's new session low. The low didn' extend down despite having plenty of time, and the balance of the session ranged narrowly around the morning's low. The price action appears to be only noise - not generating any signal, and likely to be retraced entirely eventually.Resistance: .8635 and .8680Support: .8600 and .8575
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