FX - EURO
THE EURO closed higher due to short covering on Friday as it
consolidated some of this winter's decline. The highrange close sets the stage
for a steady to higher opening when Monday's night session begins trading.
Stochastics and the RSI are oversold but 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 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. If it extends Tuesday's decline, December's
low crossing is the next downside target. Closes above the reaction high
crossing would open the door for a possible test of December's high crossing.
FX - SWISS FRANC
THE SWISS FRANC closed lower on Friday and the lowrange
close sets the stage for a steady to lower opening when Monday's night session
begins trading. Stochastics and the RSI remain bullish signalling that sideways
to higher prices are possible nearterm. If it extends this winter's rally,
monthly resistance crossing is the next upside target. Closes above the 20day
moving average crossing are needed to confirm that a low has been posted.
FX – STERLING
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