The Canadian Dollar Futures (6C March 2025) are currently trading at 0.69610, testing yesterday’s Value Area High (VAH) at 0.69605, which may act as a temporary support level. Below is an analysis of key levels for today and possible scenarios for both bulls and bears.

Key Levels for Canadian Dollar Futures Today

Bullish Levels to Watch

• 0.69659: Today’s developing VWAP, acting as an initial resistance level. Sustained trading above this level indicates potential bullish momentum.
• 0.69665–0.69670: The Value Area High (VAH) of two and four days ago. Bulls must break above this confluence zone to gain further strength.
• 0.69705: The Point of Control (POC) from December 30th, a key price magnet for bullish continuation.
• 0.69735: The POC of December 31st and a significant resistance level.

Bearish Levels to Watch

• 0.69525: Yesterday’s POC, a naked level that could act as the first support if price moves lower.
• 0.69564: Yesterday’s closing VWAP, aligning closely with other bearish levels.
• 0.69455: Yesterday’s Value Area Low (VAL), a naked level and potential target for bearish moves.

Day Trading Outlook for Canadian Dollar Futures

The Canadian Dollar Futures are range-bound, making it challenging to identify a strong directional bias. However, the key levels outlined above provide traders with clear junctions to monitor for potential trades.

Example Trade Scenarios Using Key Levels

Scenario 1: Short Opportunity

1. Entry: If price approaches today’s developing VWAP (0.69659) or Value Area High (0.69665–0.69670) and shows rejection, a short position may be considered.
2. Profit-Taking Plan:
   • Partial Profit 1: Near yesterday’s POC (0.69525).
   • Partial Profit 2: At yesterday’s closing VWAP (0.69564) or Value Area Low of Dec 27th (0.69540).
   • Final Exit: At yesterday’s Value Area Low (0.69455) or slightly above.

Scenario 2: Bullish Breakout

1. Entry: If price breaks above 0.69670, indicating bullish strength, enter long.
2. Targets:
   • First Target: 0.69705 (POC of Dec 30th).
   • Second Target: 0.69735 (POC of Dec 31st).
   • Final Target: At or slightly above 0.69725 (closing VWAP of Dec 30th and Dec 31st).

What Canadian Dollar Futures Traders Should Watch For

• Above 0.69659: Watch for a potential breakout, with resistance at 0.69670, 0.69705, and 0.69735. These levels are key junctions for bullish continuation.
• Below 0.69525: Bearish momentum increases, with targets at 0.69455 and potentially lower.
• Range-Bound Trading: Current conditions suggest range-bound behavior. Monitor reactions at the levels mentioned for opportunities to trade in either direction.

Trade Canadian Dollar Futures (6C) at your own risk, and align strategies with your market outlook. For more perspectives, visit ForexLive.com.

This article was written by Itai Levitan at www.forexlive.com.

• USD/CNY pushes above 7.30 for the first time since late 2023
• It’s been a real rough week for Chinese stocks
• Trump: Tariffs will make America wealthy again
• Germany December unemployment change 10k vs 15k expected
• UK November mortgage approvals 65.72k vs 68.50k expected
• Switzerland December manufacturing PMI 48.4 vs 48.3 expected
• China vows to sharply increase funding from treasury bonds to bolster growth this year
• Biden has decided to block Nippon Steel’s acquisition of US Steel – report

Markets:

• CHF leads, USD and CAD lag on the day
• European equities lower; S&P 500 futures up 0.2%
• US 10-year yields down 2.6 bps to 4.549%
• Gold up 0.1% to $2,659.10
• WTI crude down 0.4% to $72.84
• Bitcoin down 0.6% to $96,507

The dollar is not really following up on its strong start to the new year, at least so far today. While it is running higher against the Chinese yuan, it is taking a bit of a breather against the rest of the major currencies bloc. That said, the changes among them are relatively light as seen above.

The move against the yuan is a standout though with USD/CNY rising above 7.31 for the first time since November 2023. Falling yields in China and a poor start to the year for domestic stocks is compounding woes for investors there.

Besides that, the dollar isn’t up to much as it settles down after yesterday’s gains against the likes of the euro and pound especially. EUR/USD stuck around 1.0270-80 levels throughout, bound by large option expiries. Meanwhile, USD/JPY was also mostly little changed around 157.20-40 during the session.

This comes as US futures are once again sitting higher on the day. But as we have come to know, US trading will be a whole different ball game. Just look to yesterday for an example of that. In the case of equities, there has been a more sluggish mood in recent weeks and that looks to potentially carry over to the new year.

European indices are marked lower though, taking some shine off the better showing to start the new year yesterday.

It’s a Friday that doesn’t feel like a Friday. But once next week starts, expect markets to be back in full force. Until then, have a great weekend everyone!

This article was written by Justin Low at www.forexlive.com.

The Euro Futures (6E March 2025) are currently trading at 1.03145, rising from yesterday’s low near 1.02565, which is today’s Value Area Low (VAL) and remains a naked level. Below is a detailed breakdown of key levels and examples of how traders can use these levels as part of their decision-making process.

Key Levels for Euro Futures Today

Bearish Levels to Watch

• 1.02565: Yesterday’s Value Area Low (VAL), a naked level and a key support zone for today. If price revisits this level, watch for potential reactions or a bearish continuation.
• 1.02835: Yesterday’s Point of Control (POC), another naked level and an important price magnet where reactions could occur.

Bullish Levels to Watch

• 1.03329: Yesterday’s VWAP, which price nearly tested (high of 1.03320) before reversing. This slight miss hints at bearish undertones, though not conclusively.
• 1.03515: A significant node where price could encounter resistance.
• 1.03555: Yesterday’s Value Area High (VAH), a critical level to watch for bullish momentum or reversals.

Day Trading Outlook for Euro Futures

Price remains within yesterday’s range, trading between 1.03329 (yesterday’s VWAP) and 1.02565 (yesterday’s VAL). The slight reversal below yesterday’s VWAP is a mild bearish signal but not definitive. Traders should focus on key support and resistance zones for directional cues.

Example Trade Scenario Using Key Levels

Here’s an example to illustrate how a trader might use these levels (not a specific trade recommendation):

1. Scenario: Price rises to yesterday’s Value Area High (1.03555) and pierces it slightly before crossing back into the value area.
2. Entry: A short position is taken as price crosses back below 1.03555.
3. Profit-Taking Plan:
   • Partial Profit 1: At today’s developing VWAP (currently 1.03125).
   • Partial Profit 2: Near yesterday’s VWAP (1.03329) or just above it.
   • Partial Profit 3: At yesterday’s POC (1.02835).
   • Final Exit: At yesterday’s VAL (1.02565) or slightly above.

This approach uses key levels to structure the trade while incorporating partial profit-taking to mitigate risk.

What Euro Futures Traders Should Watch For

• Above 1.03555: A break above yesterday’s VAH signals bullish momentum, with resistance likely at 1.03515 and 1.03555.
• Below 1.03329: Remaining below yesterday’s VWAP increases bearish bias, with targets at 1.02835 (yesterday’s POC) and 1.02565 (yesterday’s VAL).
• Neutral Zone: Price between 1.03125 (today’s developing VWAP) and 1.03329 (yesterday’s VWAP) indicates range-bound trading.

Always use stops, structure trades with proper risk management, and adapt your approach based on market conditions. Visit ForexLive.com for additional insights and perspectives.

This article was written by Itai Levitan at www.forexlive.com.

The British Pound Futures (6B March 2025) have continued their bearish trend, as highlighted in our analysis yesterday, reaching a low of 1.2347 (yesterday’s Value Area Low (VAL)) before rebounding slightly. Below is an updated analysis of key levels and scenarios for today’s trading session.

Key Levels for British Pound Futures Today

Bearish Levels to Watch

• 1.2347: Yesterday’s Value Area Low, a naked level for today. Price revisiting or breaking below this level signals continued bearish pressure.
• 1.2323, 1.2315, and 1.2307: A cluster of closely aligned levels below yesterday’s low. These levels represent potential stops for traders and are prime areas for shakeouts or bullish reversal attempts.
• 1.2300: The psychological round number and another possible support level.

Bullish Levels to Watch

• 1.2413: Yesterday’s VWAP, a key resistance level. Price failing to breach this level indicates ongoing bearish momentum.
• 1.2437: Yesterday’s Value Area High (VAH). Price sustaining above this level would signal a bullish breakout for the cable.
• 1.2535: The Value Area High (VAH) of December 31st, a major resistance level. If price rallies to this level, it’s a strong point to consider taking partial profits on a long.
• 1.2521: December 31st Point of Control (POC), another key resistance and potential profit-taking zone for bulls.
• 1.2550: A higher level where price may reverse if reached. This level would be an interesting spot to consider taking larger partial profits on longs or even initiating a short.

Day Trading Outlook for British Pound Futures

The British Pound Futures remain bearish, with price unable to reclaim yesterday’s VWAP at 1.2413, a sign of continued selling pressure. Traders should watch for a potential retest of yesterday’s low at 1.2347, and possibly lower levels around 1.2323, 1.2315, or 1.2307, where a bullish reversal may occur.

On the upside, the first major test is 1.2413 (yesterday’s VWAP). If price sustains above 1.2437 (yesterday’s VAH), it signals a possible bullish breakout. However, resistance at 1.2535 and 1.2550 could cap further gains, with profit-taking likely in these zones.

What British Pound Futures Traders Should Watch For

• Above 1.2437: Bullish momentum may develop, targeting 1.2535 and 1.2550. These levels are critical for taking partial profits or initiating shorts.
• Below 1.2347: Bears remain in control, with potential moves toward 1.2323, 1.2315, and 1.2307. These levels are significant support zones where bullish reversals may occur.

Always focus on structuring trades with favorable reward-to-risk ratios and monitor price action around these key junctions. Visit ForexLive.com for other perspectives and insights.

This article was written by Itai Levitan at www.forexlive.com.

The Australian Dollar Futures (6A March 2025) are consolidating after bottoming near 0.618 two days ago. Currently, price is trading just above today’s developing VWAP at 0.62125 and yesterday’s VWAP at 0.62080. Below is a breakdown of key levels and scenarios for day traders to monitor.

Key Levels for Australian Dollar Futures Today

Bearish Levels to Watch

• 0.62019: The closing VWAP of December 30th. Sustained price action below this level would signal bearish momentum.
• 0.61925: December 31st Point of Control (POC), a key price magnet where traders are likely to take partial profits on shorts or consider a long reversal.
• 0.61805: The Value Area Low (VAL) of December 31st, marking the bottom of today’s range and a critical support level. Price reaching this level could prompt bullish reversal attempts or at least temporary profit-taking by short sellers.

Bullish Levels to Watch

• 0.62257: The closing VWAP of December 30th. Price exceeding this level would indicate bullish strength and open the door to further upside.
• 0.62325: The Value Area High (VAH) of December 30th, a likely resistance zone where traders may take partial profits on longs.
• 0.626: A key resistance level that represents a potential target for bulls. Profit-takers at this level could create temporary pullbacks or consolidation.

Day Trading Outlook for 6A Futures

The Australian Dollar Futures remain in a consolidation phase, trading near key levels that could act as price magnets.

• Above 0.62257: A break above the VWAP of December 30th signals bullish momentum, with resistance at 0.62325 and 0.626. These levels are likely to attract profit-taking and increased liquidity.
• Below 0.62019: Price moving below this level would indicate bearish control, with targets at 0.61925 and 0.61805. These areas are critical support zones where reversals or temporary bounces may occur.

Practical Considerations for Traders

• For Shorts: If entering a short near the current price, monitor 0.61925 and 0.61805 for partial profit-taking opportunities. These levels are likely to see reactions from long traders or algo activity.
• For Longs: A bullish breakout above 0.62257 sets up potential moves toward 0.62325 and 0.626. Watch these levels for opportunities to take partial profits or adjust stops.

As always, structure trades with an attractive reward-to-risk ratio and monitor price action closely around these key levels. Visit ForexLive.com for other perspectives.

This article was written by Itai Levitan at www.forexlive.com.