[music]
>> Good afternoon, everyone, and welcome to
a ProCharts video, currency edition. My
name is Jake Sweeney, pro trader here at
Verified Investing.
And we're back to the markets today,
guys. I hope you had a great holiday,
Labor Day weekend. You were able to get
outside of the charts, able to spend
time to with some family, maybe grill
out. Nonetheless, we're back to work
today, and we're going to dive into
currencies today, the dollar, the yen,
the Canadian dollar, the British pound,
and the euro. Just to see what's kind of
moving on in the markets, and we're
going to of course give you guys some
key support, resistance levels, and
trend lines to see where I
think price will react and respect.
Let's dive in, guys. Thanks for joining
me today.
First one that we're
tackling today is the DXY,
the US dollar. So, first up,
noticeably, just this past since we
broke below this trend line, this
long-term trend line here, we tried to
revisit here and try to get it back
above that $100 print, but we were shut
down from this trend line here. And
since sent we saw a sharper sell-off
last Thursday into Friday,
and today again showing weakness, as we
were not able to get even above 299.179
to tackle that as resistance. What I
will say is we got a nice clean bounce
sharply off this support trend line as
these other two candles did. I have that
from this low pivot from April 17th,
2026.
So, right now, near-term support
level-wise, watch this trend line now.
It It about five hits, so still could
and time in between. So, still has time
to push back up to tackle these
resistance levels.
For support, if this trend line breaks,
I do expect the dollar to have plenty of
support.
Well, yes, down here at 97 921
at [snorts] this key support level here.
And then also a little more shallow in
the 98 level.
About 98
98 246. So, uh from this candle here.
Uh just want to throw that in there cuz
yes, I do expect price to get a bounce.
Should we break this trend line, should
either find support here at 98 246 or 97
921.
For resistance-wise, we obviously have
to get back to this trend line and then
two, getting above the $100
handle, 117.
So, this is the first level to take on
for the dollar and then this pivot top
here
where price sold off from at 10643.
So, so far
the dollar has been printing lower lows
and lower highs, excuse me, lower highs
from right here. So, kind of near-term,
we also have this
kind of
Nah, I don't like that. Never mind. Um
but still from these high pivots here,
we're making lower highs. Now, we're
making
Um we did get some nice bounce here off
this trend line, but that will be the
key level to watch.
Looking at the yen next. Even with their
intervention continuing to sell off
um and post here and here, but we're
getting under that 155
047 level and now moving lower.
So, looks like we did pierce my trend
line today and I have that from this low
pivot from 29th of October, 2025.
It isn't relatively newer one, but it
does have four hits and now a fifth hit
today as we pierce through this
and we were able to stay above this
pivot shelf here. So, I'll also throw
that in near term
is got a nice clean bounce off this
horizontal trend line, although we
pierced this and we're covering nicely.
To the downside, I would still look for
151 911, this pivot top here as support
and then also this other pivot at 150
888.
To the upside, we got we said we have to
reclaim this 155 level and then if we
continue on higher, recover some of this
um sell-off, we would have to get past
157 895 from these key e-levels here.
Then ultimately
that would be able to push put us back
in the play to test this resistance
trend line that was capping price all of
August. So, this right here about 160 in
change this right here is a major level
for the yen to take down.
For the Canadian dollar, also facing
uh pressure from
the government, we'll leave it at that,
but was um looking at to the downside
is
price continuing to move lower. So, I'm
looking for
support levels, sorry on my zoom.
Um near term, we're going to look at
support levels. There's this pivot here
with all this prior price consolidation
at 137044
for the Canadian dollar. This level
should give a bounce for support. Then
I'm also looking at this
>> [clears throat]
>> long-term up-sloping trend line from May
2021st
May 31st, 2020
2021, excuse me.
And we have nice clean bounces off this
trend line here. And we now haven't
revisited that since early May.
So, should we come down
And if we just break below this 137
level, we could get a near-term a big
bounce so we come back to this trend
line. I hold this trend line should hold
a lot of weight when it comes to giving
a powerful bounce.
All right, to the upside we have two
resistance levels. One we're going to
have to reclaim this pivot at 138s
6 138 623.
As we're going to zoom in a little bit.
And I said that level because right here
on Friday before we close for the
market, price was able to push up above
this level here as you see that long
wick. But then it closed well below and
then didn't have enough inertia
yesterday and still trending now down
lower. That's why I was keying those
support levels first.
So, resistance-wise it has to take down
this level here.
And then also we have this down-sloping
trend line from
November 6th, 2025
running through price action right here.
And then on September 2nd, 2026 we went
up, smacked into this trend line and
it's since coming in. So, that will be
your two trend lines. This trend line
test, if it were to be tomorrow, it
would be at 139
357.
Looking at the British pound next.
Um pushing up from these lows here.
Um, so one the key level we wicked into
today, the past couple days, is this
135.582
level. This wide range green bar candle
here.
And this will be the first level to take
down.
Then we have to
then there's this pivot shelf here, all
these prior pivots at 1
359.50.
Those are your two resistance levels for
the pound as it continues to push.
And support since if we should come back
in
well, we have a lot of support here in
these trend lines. So one, let's zoom
out so you can kind of see the scale of
that.
First, we have this up sloping trend
line capturing these higher lows.
This is from late June.
And since then, we're making higher lows
on this trend line. So this is a key
trend line to watch.
And then and then price kind of got
steep and we moved away from that. So
this should be the first trend line that
gets a test.
Then we have these two down sloping
trend lines from these pivots. And with
this one, the steeper one we see price
capturing these tops here
and coming down.
Um, so this would be deep support here
converging with this up sloping support
trend line all at about 133.967.
And then this
trend line right here from this top of
the pivot from July 1st, 2025
hit
and a nice bounce off there.
And should we come back to this level
about 134
499.
So in that level
Sorry about that. Okay. Why is it doing
that? Um, these levels here should have
some good support.
And lastly, we're going to finish off
with the Euro. Pushing up as well.
So, resistance-wise,
>> [clears throat]
>> I'm looking at
right here, all these candles at 116.719
on the Euro. We're pushing into this
level, but we're seeing four [snorts] to
five wicks getting of
pressure getting shut down at this
level. So,
we had a nice green bottle candle close
above that level, but then the next day
we came back down. So, we're looking for
a confirmation close above this 116.719
level, and then a candle day to follow
to continue on higher.
So, that'll be the first level to take
out, and then once we take out that and
continue on higher, then we have this
up-sloping trend line from this pivot
here from 15th of July, 2026, capturing
these wick highs.
Price got rejected here as we broke
through that, and now continuing on
higher
to tomorrow, if we such get a surge,
that would be at 117.81.
To the downside, I expect this shelf
here at 115.946
to continue to provide support for the
Euro.
And then, ultimately,
I have this
uh down-sloping trend line from January
28th, 2026, capturing these tops here.
So, should price
uh break below as it has been doing,
down to this lower low here at 115.86,
if we do break that, watch this support
level here as a sneaky play for a bounce
to the upside. And as since
price came out to this
pushed above it and then broke out,
and then it hasn't truly retraced. So,
even just a retrace to this trend line
could be a
a
time for a good bounce for the euro to
the upside.
Thank you guys for joining me today
along my currency video. I hope you guys
got some good levels, some good alpha
from this video. Like leave me a comment
below. Um let me know if you guys did
something crazy or pretty gnarly on your
Labor Day trip.
Um I had a good time with family, and
then I just really enjoyed some some
time, you know, lifting, playing some
games, just away from the charts. But,
we're back at it today. We had a nice
day in the trading room, and that's all
for today, folks. Thanks again for
joining me, and we'll have plenty of
more videos coming to you later this
week. If it's your first time watching a
Verified Investing video, there's plenty
of links down below. Check them out. We
have tons of free resources where we
give key levels shortable and long every
single day.
That's all, folks. Take care. Enjoy.