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 are turning 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 extends this year'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 signalling that
sideways to lower prices are possible nearterm. Closes below the 20day moving
average crossing are needed to confirm that a shortterm high has been posted.
If it extends this year'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 a high might be in or is near. Closes below the 20day moving
average crossing are needed to confirm that a high has been posted. If it
extends the rally off July's low, monthly resistance crossing is the next
upside target.
FX – STERLING
STERLING closed lower on Thursday. The midrange close sets
the stage for a steady opening when Friday's night session begins trading.
Stochastics and the RSI are turning neutral to bullish hinting that a low might
be in or is near. Closes above the reaction high crossing are needed to confirm
that a low has been posted. If it extends the decline off July's high, monthly
support crossing is the next downside target.
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