FX - EURO
THE EURO closed higher on Monday. The highrange close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signalling that sideways to lower prices are possible nearterm. If it renews this summer's decline, monthly support crossing is the next downside target. Closes above last Wednesday's high crossing are needed to confirm that a low has been posted.
FX -
YEN
THE YEN closed higher on Monday. The highrange close sets
the stage for a steady to higher opening when Tuesday's night session begins
trading. Stochastics and the RSI remain neutral to bullish signalling that
sideways to higher prices are possible nearterm. If it extends this fall's
rally, weekly resistance crossing is the next upside target. Closes below the
20day moving average crossing would confirm that a shortterm high has been
posted.
FX -
SWISS FRANC
THE SWISS FRANC closed lower on Monday. The lowrange close
sets the stage for a steady to lower opening when Tuesday's night session
begins trading. Stochastics and the RSI are neutral to bullish signalling that
sideways to higher prices are possible nearterm. If it renews the rally off
July's low, monthly resistance crossing is the next upside target. If it renews
the decline off November's high, the reaction low crossing is the next downside
target.
FX -
STERLING
STERLING closed higher on Monday. The highrange close sets
the stage for a steady to higher opening when Tuesday's night session begins
trading. Stochastics and the RSI are turning neutral to bullish signalling that
sideways to higher prices are possible nearterm. Closes above the 20day moving
average crossing would confirm that a low has been posted. If it extends the
decline off July's high, the 75% retracement level of the 20132014rally
crossing is the next downside target.
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The Daily Market Commentary brought to you by HY Markets in collaboration with Forex Billionaire Club Global.
Trade Forex, Gold, Commodities, Indices, Stocks & all Capital Markets Today! Whether new to Forex Markets or an experienced trader, HY Markets provides the trading solution for you. START NOW >>http://bit.ly/1uNFAe5
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