Monday 26 January 2015

FX Market Commentary 26.1.2015


FX - EURO


THE EURO closed lower on Friday. Today's lowrange close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI have turned bearish signalling that sideways to lower prices are possible nearterm. If it extends this week's decline,monthly support crossing is the next downside target. Closes below the 10day moving average crossing would signal 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 turning bearish signalling that sideways to lower prices are possible nearterm. If it extends the decline off January's high, the reaction low crossing is the next downside target. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted.

FX - SWISS FRANC


THE SWISS FRANC closed higher on Friday. The highrange close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI have turned neutral to bullish again signalling that additional strength is possible nearterm. If it renews the rally off December's low, the 87% retracement level of the NovemberDecember decline crossing is the next upside target. Closes below the 20day moving average crossing are needed to confirm that a shortterm high has been posted.

FX – STERLING


STERLING posted a key reversal down 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 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.

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