FX – EURO
FX – YEN
THE YEN 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 turning neutral to bearish hinting that a
high might be in or is near. Closes below the 20 day moving average crossing
are needed to confirm that a shortterm bottom has been posted. If it renews
this fall's rally, August 2007 high crossing are the next upside target.
FX - SWISS FRANC
THE SWISS FRANC closed lower on Monday. The midrange close sets the stage for a steady 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 extends the decline off November's high, October's low crossing is the next downside target. Closes above the 20day moving average crossing would confirm that a shortterm high has been posted.
FX – STERLING
STERLING closed higher on Monday and 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 the rally off
November's low, November's high crossing is the next upside target. Closes
below the 20day moving average crossing would confirm that a shortterm top has
been posted.
The Daily FX Market Commentary brought to you by HY Markets in collaboration with Billionaire Forex Global. Set up your FREE account and start trading ALL Capital Markets — TODAY >> http://bit.ly/1yA3rhn
The Daily FX Market Commentary brought to you by HY Markets in collaboration with Billionaire Forex Global. Set up your FREE account and start trading ALL Capital Markets — TODAY >> http://bit.ly/1yA3rhn
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