FX - EURO
THE EURO closed lower on Monday as it extends this year's decline. The midrange close sets the stage for a steady opening when Tuesday'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 year's decline, monthly support crossing is the next downside target. Closes above last Tuesday's high crossing would confirm that a shortterm 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 are 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 20132014decline
crossing is the next downside target.
FX - SWISS FRANC
THE SWISS FRANC closed unchanged 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 bullish signalling that
sideways to higher prices are possible nearterm. If it extends the rally off
July's low, monthly resistance crossing is the next upside target.If it renews
the decline off December's high,Tuesday's low crossing is the next downside
target.
FX – STERLING
STERLING 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 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.
No comments:
Post a Comment