FX – EURO
THE EURO closed lower on Thursday. The lowrange close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI have turned neutral to bullish hinting that a low might be in or is near. Closes above last Wednesday's high crossing are needed to confirm that a low has been posted. If it renews this summer's decline, monthly support crossing is the next downside target.
FX – YEN
THE YEN closed higher on Thursday. The highrange close sets
the stage for a steady to higher opening when Friday's night session begins
trading. Stochastics and the RSI are turning neutral to bearish hinting that a
high might be in or is near. Closes below the 20day moving average crossing are
needed to confirm that a shortterm high has been posted. If it resumes this
fall's rally, weekly resistance crossing is the next upside target.
FX - SWISS FRANC
THE SWISS FRANC closed higher on Thursday. The highrange
close sets the stage for a steady to higher opening when Friday's night session
begins trading. Stochastics and the RSI are turning neutral to bearish
signalling that sideways to lower prices are possible nearterm. If it renews
the decline off November's high, the reaction low crossing is the next downside
target. If it renews the rally off July's low, monthly resistance crossing is
the next upside target.
FX – STERLING
STERLING closed lower on Thursday. The lowrange close sets
the stage for a steady to lower opening when Friday's night session begins
trading. Stochastics and the RSI are neutral to bullish signalling that
sideways to higher prices are possible nearterm. Closes above the 20day moving
average crossing are needed to confirm that a low has been posted. If it
resumes the decline off July's high, the 75% retracement level of the
20132014rally crossing is the next downside target.
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