FX Market Commentary 1/19/2015

FX - EURO

THE EURO closed lower on Friday and the midrange close sets the stage for a steady opening on Monday. 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 Friday and the highrange close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signalling that additional strength is possible nearterm. If it extends the rally off October's low, monthly resistance crossing is the next upside 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 lower on Friday and the lowrange close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI have turned bearish hinting that a high might be in or is near. Closes below the 20day moving average crossing would confirm that a shortterm high has been posted. If it renews this month's rally, weekly resistance crossing is the next upside target.

FX - STERLING

STERLING closed lower on Friday and the midrange close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible nearterm. If it renews this month's decline,momthly support crossing is the next downside target. Closes below the 20day moving average crossing are needed to confirm that a shortterm high has been posted.