FX – EURO
THE EURO 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 remain neutral to bearish signalling that
sideways to lower prices are possible nearterm. If it extends the
aforementioned decline, monthly support crossing is the next downside target.
Closes below the 20day moving average crossing would confirm that a shortterm
top has been posted.
FX - YEN
THE YEN closed higher on Thursday and 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 hinting
that a shortterm top has been posted. Closes below the 20day moving average
crossing are needed to confirm that a shortterm top has been posted. If it
renews the rally off September's low, monthly 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 bullish
signalling that sideways to higher prices are possible nearterm. Multiple closes
above the 20day moving average crossing would confirm that a shortterm bottom
has been posted. If it renews the decline off January's high, December's low
crossing is the next downside target.
FX – STERLING
STERLING 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 bearish hinting that a shortterm top might be in or is near. Closes below last Monday's low crossing would confirm that a shortterm top has been posted and signal that a shortterm trend change has taken place. If it renews the rally off November's low, monthly resistance crossing is the next upside target.
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