FX - EURO
THE EURO closed lower on Tuesday as it consolidated some of last week's rally but remains above the 20day moving average. Tuesday's lowrange close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bearish signalling that sideways to lower prices are possible nearterm. If it renews aforementioned decline, monthly support crossing is the next downside target.
FX - YEN
THE YEN closed lower on Tuesday. The lowrange close sets the
stage for a steady opening when Wednesday's night session begins trading.
Stochastics and the RSI remain bullish signalling that additional strength is
possible nearterm. If it extends the recent decline, December's low crossing is
the next downside target. Closes below the 20day moving average crossing are
needed to confirm that a shortterm top has been posted.
FX - SWISS FRANC
THE SWISS FRANC closed higher on Tuesday. The highrange
close sets the stage for a steady to higher opening when Wednesday's night
session begins trading. Stochastics and the RSI are neutral to bearish
signalling that sideways to lower prices are possible nearterm. If it renews
last winter'r rally,monthly resistance crossing is the next upside target.
Closes below the 10day moving average crossing are needed to confirm that a
shortterm top has been posted.
FX - STERLING
STERLING closed slightly lower on Tuesday . The highrange close sets the stage for a steady opening when Wednesday's night session begins trading. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible nearterm. If it renews this month's decline, November's low crossing is the next downside target. Closes below the 20day moving average crossing are needed to confirm that a shortterm top has been posted.
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