FX – EURO
THE EURO closed lower on Wednesday. The lowrange close sets the stage for a steady to lower opening when Thursday'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 this year's decline, monthly support crossing is the next downside target. If it resumes the rally off December's low, November's high crossing is the next upside target.
FX – YEN
THE YEN closed higher on Wednesday as it consolidates some
of the decline off December's high. The highrange close sets the stage for a
steady to higher opening when Thursday's night session begins trading.
Stochastics and the RSI are turning neutral to bullish signalling that sideways
to higher prices are possible nearterm. If it renews this year's rally, weekly
resistance crossing is the next upside target. If it extends the decline off
December's high, the 25% retracement level of the 20132014rally crossing is the
next downside target.
FX - SWISS FRANC
THE SWISS FRANC closed higher on Wednesday. The midrange
close sets the stage for a steady to higher opening when Thursday's night
session begins trading. Stochastics and the RSI are turning 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 December's high, November's low crossing
is the next downside target.
FX – STERLING
STERLING closed sharply lower on Wednesday and is poised to
renew this year's decline. The lowrange close sets the stage for a steady to
lower opening when Thursday'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 extends the decline off July's high, monthly support
crossing is the next downside target. Closes above the reaction high crossing
are needed to confirm that a low has been posted.
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