FX – EURO
THE EURO closed higher on Friday and above the 20day moving
average crossing confirming that a low has been posted. The highrange close
sets the stage for a steady to higher opening when Monday's night session
begins trading. Stochastics and the RSI are neutral to bullish signalling that
sideways to higher prices are possible nearterm. If it extends this week's
rally, November's high crossing is the next upside target. If it renews this
year's decline, monthly support crossing is the next downside target.
FX - YEN
THE YEN closed lower on Friday. The lowrange close sets the
stage for a steady to lower opening when Monday's night session begins trading.
Stochastics and the RSI are 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 renews this
year's rally, weekly resistance crossing is the next upside target.
FX - SWISS FRANC
THE SWISS FRANC closed lower on Friday and below the 20day
moving average crossing confirming that a high has been posted. The midrange
close sets the stage for a steady to lower opening when Monday's night session
begins trading. Stochastics and the RSI remain neutral to bearish signalling
that sideways to lower prices are possible nearterm. If it extends this week's
decline, November's 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 higher on Friday. The midrange close sets
the stage for a steady to lower opening when Monday's night session begins
trading. Stochastics and the RSI are 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.
The Daily FX Market Commentary brought to you by HY Markets in collaboration with JP&Partners Worldwide. All rights reserved.
No comments:
Post a Comment