FX Market Commentary 1/9/2015

FX - EURO

THE EURO closed lower on Wednesday. Today's lowrange close sets the stage for a steady to lower opening when Thursday'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 December's high, the reaction low crossing is the next downside target. Closes below the 10day moving average crossing are needed to confirm that a top has been posted.

FX - YEN

THE YEN closed higher on Thursday. The highrange close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish hinting that a shortterm high might be in or is near. Closes below the 20day moving average crossing are needed to confirm that a shortterm high has been posted. If it renews the rally off October's high, monthly resistance crossing is the next upside target.

FX - SWISS FRANC

THE SWISS FRANC closed higher on Thursday and the highrange close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible nearterm. If it extends last week's rally, monthly resistance crossing is the next upside target. Closes above the 20day moving average crossing would confirm that a shortterm low has been posted.

FX – STERLING

STERLING closed slightly lower on Thursday. The lowrange close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible nearterm. If it renews this week's decline, weekly 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.