FX Market Commentary 1/20/2015

FX - EURO

THE EURO closed higher on Monday. Monday's highrange close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI have turned bearish again signalling that sideways to lower prices are possible nearterm. If it renews the aforementioned decline,monthly support crossing is the next downside target. Closes below the 20day moving average crossing are needed to confirm that a top has been posted.

FX - YEN

THE YEN closed lower on Monday and the highrange close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI have turned bullish signalling that sideways to higher prices are possible nearterm. If it renews the rally off October's low, weekly resistance crossing is the next upside target. If it extends this month's decline, the reaction low crossing is the next downside target.

FX - SWISS FRANC

THE SWISS FRANC 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 bearish signalling that sideways to lower prices are possible nearterm. If itextends last week's decline, last Thursday's low crossing is the next downside target. Closes below the 10day moving average crossing would confirm that a shortterm top has been posted.

FX - STERLING

STERLING closed lower on Monday and the lowrange close sets the stage for a steady to lower 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 the decline off July's high, monthly support crossing is the next downside target. Closes below the 20day moving average crossing are needed to confirm that a shortterm top has been posted.