EUR/USD rallied through resistance on Friday, over the 20 day MA where price closed above the previous

weekly highs where price is currently testing on late Sunday evening.  IF price continues with the bullish price

action, the next possible resistance is 1.4530 and 1.4551 as the fib targets from the most recent high low swing.

IF price sells off from the current highs of Sunday, watch for possible support at the CURRENT fib retracement

levels at 1.4407, 1.4380 and 1.4352.  IF a newer daily high in price is made, then redraw the fibs from the high

of Sunday to the low from last Friday and use these levels.

GBP/USD rallied up on Friday to the week’s 62% retracement for the high of the day then rallied again late

Sunday to double top at this level where price currently resides.  IF price rallies to retest this level, 1.6109 is

the high of Friday and may again be resistance, as well as, 1.6192 which is the next fib target.  IF price sells off,

1.6003 and 1.5977 are the fib retracements from last week’s low to Sunday’s high for potential support.

USD/JPY reversed from last week’s early rally and sold off on Friday after finding resistance at the 200 day

MA.  Price is still strong, but may need to retrace if the uptrend is to continue.  IF price does sell off, 92.22 is

a weekly pivot and 62% retracement and 91.64 is a fib target for possible support.  IF price rallies, 93.00 and

93.18 are the CURRENT 50/62% retracements from last week’s high to Friday’s low for possible resistance.

USD/CAD continued to sell off and is still testing the lows of Sunday for support as price continues to sell off.

Price is testing a fib target for support.  IF price breaks this level, the next possible support is 1.0218 and 1.0191

which are fib targets from various swings.  IF price rallies from the current low of Sunday, 1.0337 is the 62%

retracement from Friday’s high and 1.0369 is approx. the highs of Friday for possible resistance.

EUR/USD rallied up strongly through resistance and made fresh yearly highs after price sold off slightly

for several days in row beginning late last week.  The high of the day is currently at the weekly pivot

where price is currently residing and testing again for resistance.  Because of the lack of selling at this

level, price may merely be stalling and consolidating before attempting to rally again at some point

during the rest of the week.  IF price does rally and pops over the weekly pivot, the next possible

resistance are the fib targets from the weekly high/low at 1.4903 and 1.4953.  If price does eventually

sell off from the weekly pivot, the next potential support is the current 62% weekly fib at 1.4693 and

the next long term 38% retracement at 1.4580.

GBP/USD also continued to rally from Monday’s rally and double bottom from the beginning of the

month and found the high of the day at the 20 day MA.  The trend bias is still bearish and the next

potential resistance are the next long term 50/62% retracements at 1.6437 and 1.6508.  If price sells

off from the 20 day MA and current weekly high, the current weekly 38/50/62% retracements are

1.6293, 1.6363-1.6232 for possible support as price sells off.

USD/JPY continued to sell off after finding resistance at the 20 day MA on Monday and sold off to

the next 62% retracement and monthly and weekly pivots where price is currently testing for support.

If the sell off continues, 90.58 and 90.25 are fib profit targets for possible support.  IF price reverses

from the weekly pivot and rallies, 91.72 and 91.91 are the current weekly 50/62% retracement levels

that may offer resistance.

USD/CAD sold off also from the 20 day MA and sold off early in the trading session on Tuesday as

price approaches the previously strong support level where price found support multiple times.  IF

price continues to sell off to retest the level, watch for possible support at the 1.0600-1.0587 zone

and the next strong possible support at the fib target cluster at 1.0550.   IF price rallies, from Tuesday’s

current low and rallies, 1.0756 and 1.0779 are the current 50/62% retracements for possible resistance

if price rallies.

EUR/USD sold off to last week’s lows, found support and rallied to a long term trend line that

has contained price multiple times in the last 10 days and sold off.  Price is still above 20 and 50

day MA’s and stuck between resistance from the long term trend line.  If price sells off again and

breaks the 20 day MA, watch for possible support at the weekly lows near approx. 1.4200.

1.4100 is near the monthly and weekly pivot which may also provide support if tested on

Monday or Tuesday.

GBP/USD rallied to the 50 day MA on Friday and also double topped at the weekly highs and

is currently testing the 1.6400 level again for resistance.  IF price rallies over the 50 day MA,

the next potential resistance is the fib target and weekly pivot beginning at 1.6481 and the next fib

target cluster at 1.6522.  If price fails at the 1.6400 level and sells off the fib retracement levels

from last week’s range are currently 1.6296, 1.6261 and 1.6226.

USD/JPY sold off last week and found support at the long term lows from early July and rallying

on Thursday/Friday.  IF price continues to rally from the strong support, the next potential

resistance are 93.52 and 93.88 as the 50/62% retracements from the high/low swings of the last

two weeks.  IF price sells off again to retest the lows of last week, watch for possible support at

92.00 (support level from last week) and 91.37 (fib target.)

USD/CAD had a huge sell off after the NFP news was released and continued to sell off late

afternoon on Friday as price closed below the 20 and 50 day MA’s.  IF the selling pressure

forces another sell off early this week, 1.0800 is the next major swing low point for potential

support and 1.0720 is the prior weekly low and fib target as well.  IF price finds support and

rallies, the current fib retracements for last week that may offer resistance are 1.0930, 1.0963

and 1.0996.*

USD/CHF rallied hard after the NFP news but still found resistance at the 20 day MA and

previously strong resistance level where price has stalled several times in the past 10 days.  IF

price again rallies on Monday, the next potential resistance is 1.0695 (weekly pivot and previous

swing high point) and 1.0714 (high from two weeks ago.)  IF price sells off, 1.0550 has been

strong also been strong support in the past several weeks and may again provide support if

tested early this week.

EUR/USD had a low volatility inside ranging day as price failed to make a higher daily

high or lower daily low then Friday.  If price breaks out from the consolidation on Tuesday,

the next possible support are the 38/50/62% retracement levels from last week’s high/low

which are currently 1.4250, 1.4210 and 1.4172.  If price finds support at these levels and

rallied, watch for potential resistance at last week’s high of 1.4376 and the highs of the prior

week where price found resistance multiple times in the 1.4428- 1.4451 range.*

GBP/USD was contained in a sideways, inside channel for the majority of last week and

price sold off to find support at the bottom of this channel on Monday, just below the 50

day MA.  IF price breaks from the channel and sells off, the next possible support is

1.6276 as the weekly lows from last week and 1.6220 which is a fib target and monthly

pivot where price could bounce.   If price finds support at the bottom of the channel and

rallies, the top of the channel and high of last week is approx. 1.6624 and the next intra

weekly fib target for light possible resistance is 1.6700.

USD/JPY rallied to the resistance area mentioned in the trading letter yesterday where the

main MA’s that we use are currently clustered together along with the 38% retracement

of the prior two weeks which was the high of the day.  This level, at 95.07 and the next

50% retracement of 95.59 will be the possible resistance levels for Tuesday.  IF price

sells off, 94.05 is the current 62% retracement of last week’s low to this week’s high

for possible support and the low of last week at 93.43 is also a weekly pivot and may

offer support if tested this week.

USD/CAD has continued with the selling pressure of last week and trended down again

making new 10 day lows as price is fast approaching the current lows of the month for

support.  If price continues to sell off, 1.0700 is an intra weekly fib target for light

potential support and 1.0640 is the approx. lows for August which may be support if

tested this week.  If price rallies, 1.0877 and 1.0924 are the current 38/50% retracements

from last week’s high to this week’s current low for possible resistance.  IF a NEW weekly

LOW is made, then these resistance fib levels will be changed.

USD/CHF had a inside, low volume, low volatility day and moved a small amount of its

daily ATR.  Price is stuck at support and well below the 20/50 day MA’s.  IF price

rallies, 1.0656 is a retracement cluster and weekly pivot and 1.0680 is the beginning of

the next fib retracement cluster for possible resistance.  These levels are also identified

by the trade zones on your charts.  IF price sells off, 1.0554 is the low of last week and

a monthly pivot and 1.0504 is a fib target for the next potential support levels for Tuesday.

EUR/USD had a big rally to open the session, retraced to 50% of the breakout then rallied

again to test the highs of the day.  Currently Price is well above the 20 and 50 day MA’s but

may need to retrace to test support if the uptrend is to continue.  IF price does sell off, 1.4250

is a fib retracement and weekly pivot and 1.4210 is the next long term 50% retracement for

possible support.  IF momentum continues and takes price to test the highs, 1.4376 is the high

for last week and may again be resistance and 1.4441 is the next fib target from Friday’s

swing high/low.

GBP/USD rallied to double top at the previous weekly highs then sold off again, as price is

still contained between the 20 and 50 day MA’s as support and resistance.   IF price rallies

to test the highs, 1.6624 is the high of last week and 1.6700 is the next fib target for potential

resistance for Monday.  If price reverses and sells off, 1.6408 is the long term 62%

retracement and 1.6276 is the low of last week for high possible support for Monday as

well.

USD/JPY sold off on Friday to make new monthly lows then rallied hard in the afternoon

session and has since rallied early Sunday session to test the highs of Friday.  IF price keeps

rallying 95.08 and 95.60 are the 38/50% retracements of the past several weeks where price

may find resistance.   IF price sells off, 93.43 is the low of last week for possible support

if price tests this level on Monday or Tuesday.

USD/CAD also rallied heavily in the afternoon of the Friday session and is approaching the

potentially strong resistance where the 20/50 and 200 day MA’s are clustered.  95.08 and

95.60 are the next 38/50% retracements where price may find resistance.  IF price sells off,

93.43 is the weekly low and weekly pivot for possible support and 92.65 is the next light

potential support point (fib target.)

USD/CHF sold off to major support for the lows of the week, where price is currently

testing again for support just above the monthly pivot.  If price ultimately finds support here

and rallies, 1.0660 and 1.0681 are the next fib retracement levels from different weekly

and multi-weekly swings for possible resistance.  IF price sells off, 1.0507 is a fib target

and 1.0477 is a fib target and weekly pivot for possible support as well.

EUR/USD found resistance at the weekly highs and sold off rapidly to the long term 38% fib

retracement for the low of the day which were both trading zones.  Price is over the 20/50

and 200 day MA’s but has met strong resistance levels as price has failed at this zone multiple

times this month.  IF price rallies again, 1.4236 is the 62% retracement of Tuesday and 1.4291

is approx. last week’s high where price may be resistance on Wednesday.  IF price sells off,

1.4123 and 1.4068 are the next long term fib retracement levels for potential support.

GBP/USD also rallied to strong resistance which has held since last May and sold off to double

bottom at the weekly lows from Sunday for the low of the day.  Price is just above the 20 and

50 day MA which may act as support if tested this week.  IF price rallies to retest the previously

mentioned resistance zone, watch for resistance from 1.6566-1.6586 (weekly pivot and last

week’s high) and at 1.6683 and 1.6743 which are fib projection targets from last week’s high/low

swing.  If price sells off, 1.6354 is the next long term 38% fib retracement and 1.6311 is last

week’s low which may be support when tested.

USD/JPY sold off after finding strong resistance at the 200 day MA and sold off to just above

the 38% fib retracement from the lows of 2 weeks ago and this week’s high.  If price sells off

again to test this mentioned level, 94.00 is the 38% level and 93.56 is the next 50% retracement

for possible support as well.  IF price rallies on Wednesday, 95.29 is the weekly high and 96.10

is the next fib target cluster for possible resistance levels.

USD/CAD sold off again to barely make new lows for month as price is again testing the strong

support levels from the lows of late May.  Price then quickly was bought and rallied for the rest

of the active trading session before selling back off showing indecision for the immediate price

direction for the rest of the week.  IF price does fail at the support level just mentioned and rallies,

1.0930 and 1.0975 are the next longer term fib retracements which may be resistance if tested.

If price sells off again, 1.0669 and 1.0613 are the next fib targets from various intra-weekly

swings for possible support.

USD/CHF sold off briefly to double bottom near the weekly low then rallied heavily to make

new weekly highs just above last week’s high as price found resistance for the high of the day

at the 20 day MA.  Price is stuck between strong support at lows from early June and resistance

from the 20 and 50 day MA’s resulting in the consolidating price action.  IF price rallies, 1.0800

is approx the weekly high and 1.0818 is the next 62% fib retracement from 2 weeks ago high

to last week’s low for possible resistance.  IF price sells off, 1.0634 is the weekly pivot and

begins the very strong potential support from the zone previously mentioned which may be

support and possible chance to get into a nice countertrend rally.  IF this level is broken,

however, be aware that a very strong sell off is likely to potentially happen as stops are

triggered from people who have had long positions from the zone for the past several months.

PR: wait… I: wait… L: wait… LD: wait… I: wait… wait… Rank: wait… Traffic: wait… Price: wait… C: wait…

EUR/USD rallied to the previously mentioned 1.4000 level for the highs of the week on Friday as price also found resistance at the 20 day MA and sold off back into the range.  If price rallies on Monday, this level, 1.4000 may again provide resistance, as well as the next major 50% fib retracement at 1.4043.  IF price sells off, the 62% retracement from last week’s range is 1.3849 and just above the monthly pivot and could be potentially strong support.  The next possible  support is 1.3760 (last week’s low.)

GBP/USD rallied hard after finding support at the 20 day MA for multiple days and is currently approaching the monthly and yearly highs.  IF price does continue to rally, last week’s high was 1.6621 and 1.6700 is a fib target which may also offer resistance.   IF price sells off, the 62% retracement from last week’s range is currently 1.6330 and 1.6210 is the next long term range 50% retracement for potential support.

USD/JPY rallied heavily on Thursday before selling off strongly on Friday and closing below the 20/50 and 200 day MA’s.   Price is currently stuck in between a long term wedge consolidation pattern seen on a daily chart as price has bounced from the tops and bottoms of this range for the last several months.  If price rallies on Monday, 97.05 and 97.42 are the current 50/62% retracements for last week’s high/low range for possible resistance.  If price sells off, 95.63 is approx. last week’s low and 95.02 begins a fib target cluster for potential support.

USD/CAD consolidated for most of the week within a tight range as price attempted to break out of the range on Wednesday resulting in a false breakout and a sell off back into the range. Price is between the 20 and 50 day MA’s.  1.1450 is last week’s high and 1.1540 is a fib target for possible resistance on Monday.  IF price sells off, watch for potential support at 1.1255 and 1.1196 (next major fib support levels.)