Forex Market Commentary 27.02.2015

FX - EURO

THE EURO closed lower on Thursday and the lowrange close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends last month's decline, the NovemberFebuary uptrend line crossing is the next downside target. Closes above the 20day moving average crossing would temper the nearterm bearish outlook.

FX - YEN

THE YEN 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 bearish hinting that a shortterm high might be in or is near.Closes above the 20day moving average crossing are needed to confirm that a shortterm bottom has been posted. If it renews the rally off September's low, monthly support crossing is the next upside target.

FX - SWISS FRANC

THE SWISS FRANC closed sharply higher on Thursday and the highrange close sets the stage for a steady to higher opening when Friday'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 last month's rally, January's high crossing is the next upside target. Closes above the 10day moving average crossing would confirm that a shortterm low has been posted.

FX - STERLING

STERLING closed lower on Thursday and the lowrange close sets the stage for a steady to lower opening when Friday'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 this year's decline, last May's low crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a shortterm low has been posted.

Forex Market Commentary 26.02.2015

FX - EURO

THE EURO closed higher on Wednesday and the highrange close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends this month's decline, the 62% retracement level of the NovemberFebruary rally crossing is the next downside target. Closes above the 20day moving average crossing would temper the nearterm bearish outlook.

FX - YEN

THE YEN closed lower on Wednesday and the midrange close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are bearish hinting that a shortterm high might be in or is near. Closes below the reaction low crossing are needed to confirm that a shortterm bottom has been posted. If it renews the decline off February's high, monthly support crossing is the next downside target.

FX - SWISS FRANC

THE SWISS FRANC closed lower on Wednesday and the 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 this month's rally, January's high 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 higher on Wednesday and the highrange close sets the stage for a steady to higher 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 this year's decline, weekly support crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a shortterm low has been posted.

Forex Market Commentary 25.02.2015

FX – EURO

THE EURO closed higher on Tuesday and the highrange close sets the stage for a steady opening on Wednesday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends this month's decline, the 62% retracement level of the NovemberFebruary rally crossing is the next downside target. Closes above the 20day moving average crossing would temper the nearterm bearish outlook.

FX - YEN

THE YEN closed higher on Tuesday. 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 turning neutral to bearish signalling that a high might be in or is near. If it renews the decline off January's high, the 62% retracement level of the OctoberJanuary rally crossing is the next downside target. If it extends this month's rally, the reaction high crossing is the next upside target.

FX - SWISS FRANC

THE SWISS FRANC closed lower 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 remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends this month's decline, December's low crossing is the next downside target. Closes above the 20day moving average crossing would confirm that a shortterm bottom has been posted.

FX – STERLING

STERLING closed 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 neutral to bearish hinting that a shortterm top might be in or is near. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted. If it resumes the rally off February's low, monthly resistance crossing is the next upside target.

Forex Market Commentary 24.02.2015

FX – EURO

THE EURO closed lower on Monday and the lowrange close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends this month's decline, the 62% retracement level of the NovemberFebruary rally crossing is the next downside target. Closes above the 20day moving average crossing would temper the nearterm bearish outlook.

FX - YEN

THE YEN closed lower on Monday. Monday's lowrange close sets the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends this month's rally, the reaction high crossing is the next upside target. If it renews the decline off January's high, the 62% retracement level of the OctoberJanuary rally crossing is the next downside target.

FX - SWISS FRANC

THE SWISS FRANC closed higher on Monday. The midrange close sets the stage for a steady to higher 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 this month's decline, December's low crossing is the next downside target. Closes above the 20day moving average crossing would confirm that a shortterm bottom has been posted.

FX - STERLING

STERLING 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 neutral to bearish hinting that a shortterm top might be in or is near. Closes below the 20 day moving average crossing would confirm that a shortterm top has been posted. If it resumes the rally off February's low, monthly resistance crossing is the next upside target.

Forex Pivot Points & Technical Analysis 23.02.2015

Daily technical analysis for major currency pairs, main support and resistance levels and intra-day trading strategies based on same day Pivot Points.

Forex Pivot Points:

Pivot points are very useful tools for FX professional traders that use the previous bars' highs, lows and closings to project potential support and resistance levels for future bars.

EURUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.1365$ with targets at 1.1295$ next 1.1210$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1365$ with targets at 1.1445$ next 1.1515$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1445, 1.1500, 1.1540, 1.1650, 1.1680, 1.1755, 1.1870

Support: 1.1270, 1.1115, 1.1080 , 1.1020, 1.0980

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5385$ with targets at 1.5430$ next 1.5480$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5385$ with targets at 1.5340$ next 1.5295$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5485, 1.5540, 1.5620, 1.5680, 1.5785

Support: 1.5315, 1.5195, 1.4990, 1.4950, 1.4880, 1.4770

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9425 with targets at 0.9480 next 0.9590 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9425 with targets at 0.9315 next 0.9260 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9500, 0.9550

Support:0.9345, 0.9165, 0.8835, 0.8495, 0.8325, 0.8270

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 118.80 with targets at 119.35 next 119.70 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 118.80 with targets at 118.45 next 117.95 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 120.50, 120.75, 121.70

Support: 118.00, 116.85, 115.85, 115.50

USDCAD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.2505 with targets at 1.2445 next 1.2360 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.2505 with targets at 1.2585 next 1.2650 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2700, 1.2790, 1.2810, 1.2920, 1.3000

Support: 1.2350, 1.2045, 1.2020, 1.1875, 1.1795, 1.1670

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7825 with targets at 0.7860 next 0.7885 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7825 with targets at 0.7800 next 0.7765 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7880, 0.8035, 0.8090, 0.8160, 0.8295, 0.8375

Support: 0.7625, 0.7580, 0.7460

NZDUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.7525 with targets at 0.7490 next 0.7475 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.7525 with targets at 0.7540 next 0.7570 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7575, 0.7610, 0.7670, 0.7795, 0.7890

Support:  0.7450, 0.7325, 0.7290, 0.7190, 0.7170, 0.7080

Forex Pivot Points & Technical Analysis 20.02.2015

Daily technical analysis for major currency pairs, main support and resistance levels and intra-day trading strategies based on same day Pivot Points.

Forex Pivot Points:

Pivot points are very useful tools for FX professional traders that use the previous bars' highs, lows and closings to project potential support and resistance levels for future bars.

EURUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.1390$ with targets at 1.1330$ next 1.1295$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1390$ with targets at 1.1425$ next 1.1485$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1445, 1.1500, 1.1540, 1.1650, 1.1680, 1.1755, 1.1870

Support: 1.1270, 1.1115, 1.1080 , 1.1020, 1.0980

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5415$ with targets at 1.5485$ next 1.5555$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5415$ with targets at 1.5345$ next 1.5275$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5485, 1.5540, 1.5620, 1.5680, 1.5785

Support: 1.5315, 1.5195, 1.4990, 1.4950, 1.4880, 1.4770

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9460 with targets at 0.9535 next 0.9575 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9460 with targets at 0.9420 next 0.9345 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9500, 0.9550

Support:0.9345, 0.9165, 0.8835, 0.8495, 0.8325, 0.8270

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 118.85 with targets at 119.30 next 119.60 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 118.85 with targets at 118.55 next 118.10 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 120.50, 120.75, 121.70

Support: 118.00, 116.85, 115.85, 115.50

USDCAD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.2495 with targets at 1.2435 next 1.2380 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.2495 with targets at 1.25550 next 1.2605 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2700, 1.2790, 1.2810, 1.2920, 1.3000

Support: 1.2350, 1.2045, 1.2020, 1.1875, 1.1795, 1.1670

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7800 with targets at 0.7840 next 0.7885 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7800 with targets at 0.7755 next 0.7710 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7880, 0.8035, 0.8090, 0.8160, 0.8295, 0.8375

Support: 0.7625, 0.7580, 0.7460

NZDUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 0.7530 with targets at 0.7490 next 0.7460 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 0.7530 with targets at 0.7560 next 0.7605 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7575, 0.7610, 0.7670, 0.7795, 0.7890

Support:  0.7450, 0.7325, 0.7290, 0.7190, 0.7170, 0.7080

Daily Market Review 19.02.2015

Indices

After the minutes from the latest policy meeting of the U.S. Federal Reserve were released yesterday, U.S. stocks ended marginally lower. The minutes of the meeting showed ambiguity, with some officials stating that they were not in a hurry to increase interest rates as this would harm the economic recovery in the country while ‘several’ felt that delaying this rate hike would cause high inflation. The bond market was also impacted by these minutes and yields decline 2.08 percent, down 6 basis points. At the close of trading, the Dow Jones Industrial Average (DJIA) dropped 0.1%, or 17.41 points, to 18,030.17. This decline was led by losses in Chevron Corp and Exxon Mobil. Also on the downside was the S&P 500 index (SPX) which closed just below its previous record close at 2,099.66. As a result of dropping oil prices, energy stocks led the losses on the SPX while the Nasdaq Composite index (COMP) broke the trend and closed up 0.1% or 7.10 points, at 4,906.36.

Currencies

Despite the release of poor economic data in the U.S., the U.S. dollar (USD) traded higher against most major currencies. Earlier in the day, the Commerce Department reported that producer prices in the country dropped by 0.8 percent in January. Analysts were expecting a decline of only 0.4% decline. Also, core producer prices dropped in January by 0.1 percent, missing expectations for a gain of 0.1%. In a separate report, the U.S. Commerce Department also stated that issued building permits in January dropped to 1.053 million units, down 0.7% with December’s total at 1.060 million. U.S. housing starts also dropped to 1.065 million units in January, down 2.0 percent. Meanwhile, in their report, the Federal Reserve showed an increase of 0.2% in industrial production in January while the capacity utilization rate held steady in January at 79.4%. In currency trading, the EUR/USD traded at 1.1363, down 0.41% while GBP/USD traded at 1.5442, up 0.58%. The USD/CHF gained 0.61 percent to trade at 0.9426 while USD/JPY held steady at 119.20.

Stocks

When you hear about Apple Inc. (NASDAQ:AAPL.O), you can’t help but think about a technology giant behind the production of computers, phones and other hi-tech gadgets. So when you hear that A123 Systems, the electric-car battery maker, has sued Apple, you must be wondering why. According to A123, the iPhone maker has been poaching their top engineers in order to build a battery division which has added further evidence that Apple is in the process of also developing a self-driving electric car. Tesla Inc. has also had Apple knocking on their door, poaching their top engineers who are experienced in car systems. Other automakers and industry experts have also been on Apple’s radar. According to A123, Apple started aggressively poaching their engineers in June 2014 and as a result, many of their top staff involved in critical projects have now jumped ship despite breaking their agreements of employment. The five former A123 employees are also being sued. Apple is currently trading at $128.71 a share.

Commodities

 In Asian trading on Thursday, crude oil prices dropped more than 3 percent. This came in response to industry stockpiles data in the U.S. after the American Petroleum Institute released data on Wednesday which showed that stocks of crude had increased by 14.3 million barrels. Gasoline stocks also rose by 1.3 million barrels while distillates fell by 2.7 million barrels. Today, the Department of Energy in the U.S. will release its figures for the same period. Crude oil for April delivery traded at $51.25 a barrel, down 2.98 percent on the NYMEX while Brent oil for delivery in April traded at $61.53 a barrel on the ICE Futures Exchange in London, down 1.61% or $1.00.

Forex Pivot Points & Technical Analysis 18.02.2015

Daily technical analysis for major currency pairs, main support and resistance levels and intra-day trading strategies based on same day Pivot Points.

Forex Pivot Points:

Pivot points are very useful tools for FX professional traders that use the previous bars' highs, lows and closings to project potential support and resistance levels for future bars.

EURUSD - Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.1390$ with targets at 1.1335$ next 1.1265$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1390$ with targets at 1.1460$ next 1.1520$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1445, 1.1500, 1.1540, 1.1650, 1.1680, 1.1755, 1.1870

Support: 1.1270, 1.1115, 1.1080 , 1.1020, 1.0980

GBPUSD - Day Trading Strategies

Bearish Scenario: Short positions below the daily pivot point 1.5355$ with targets at 1.5310$ next 1.5270$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.5375$ with targets at 1.5395$ next 1.5445$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5440, 1.5485, 1.5540, 1.5620, 1.5680, 1.5785

Support: 1.5315, 1.5195, 1.4990, 1.4950, 1.4880, 1.4770

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9340 with targets at 0.9395 next 0.9425 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9340 with targets at 0.9310 next 0.9260 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9345, 0.9550

Support: 0.8835, 0.8495, 0.8325, 0.8270

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 118.95 with targets at 119.65 next 120.15 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 118.95 with targets at 118.50 next 117.80 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 120.50, 120.75, 121.70

Support: 118.00, 116.85, 115.85, 115.50

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2410 with targets at 1.2460 next 1.2530 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2410 with targets at 1.2340 next 1.2290 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2700, 1.2790, 1.2810, 1.2920, 1.3000

Support: 1.2350, 1.2045, 1.2020, 1.1875, 1.1795, 1.1670

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7795 with targets at 0.7845 next 0.7880 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.77795 with targets at 0.7755 next 0.7700 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7880, 0.8035, 0.8090, 0.8160, 0.8295, 0.8375

Support: 0.7625, 0.7580, 0.7460

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7525 with targets at 0.7565 next 0.7595 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7525 with targets at 0.7495 next 0.7455 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7555, 0.7610, 0.7670, 0.7795, 0.7890

Support:  0.7450, 0.7325, 0.7290, 0.7190, 0.7170, 0.7080

Forex Market Commentary 17.02.2015

FX - EURO

THE EURO closed lower on Monday and the lowrange close sets the stage for a steady opening on Tuesday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends this month's decline, the NovemberJanuary uptrend line crossing near is the next downside target. Closes below the 20day moving average crossing would temper the nearterm bearish outlook.

FX - YEN

THE YEN closed lower on Monday and the lowrange close sets the stage for a steady opening on Tuesday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible nearterm. If it extends this month's rally, January's high crossing is the next upside target. Closes below the 10day moving average crossing would confirm that a shortterm high has been posted.

FX - SWISS FRANC

THE SWISS FRANC closed lower on Monday while extending the trading range of the past three weeks. The highrange close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are turning neutral to bullish hinting that a shortterm bottom might be in or is near. Closes above the 20day moving average crossing would temper the nearterm friendly outlook. If it extends the decline off January's high, the reaction low crossing is the next downside target.

FX – STERLING

STERLING closed lower on Monday. The lowrange close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off last week's low, monthly resistance crossing is the next upside target. Closes below the 10day moving average crossing would confirm that a shortterm top has been posted.

Forex Market Commentary 16.02.2015

FX - EURO 

THE EURO closed higher on Friday as it extends the rally off this month's low. The lowrange close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends the aforementioned rally, the reaction high crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted.

FX - YEN

THE YEN closed lower on Friday. Friday's lowrange close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signalling that sideways to lower prices are possible nearterm. If it renews the decline off January's high, the 62% retracement level of the OctoberJanuary rally crossing is the next upside target. Closes above the 20day moving average crossing would confirm that a shortterm bottom has been posted.

FX - SWISS FRANC

THE SWISS FRANC closed higher on Friday and the highrange close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off January's low, the reaction high crossing is the next upside target. Closes below the 20day moving average crossing would temper the nearterm friendly outlook.

FX - STERLING

STERLING soared to a new contract high on Friday.The highrange close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off last week's low, monthly resistance crossing is the next upside target. Closes below the 10day moving average crossing would confirm that a shortterm top has been posted.

Forex Market Commentary 13.02.2015

FX - EURO

THE EURO closed higher on Thursday as it extends the rally off this month's low. The highrange close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends the aforementioned rally, the reaction high crossing is the next upside target. Closes below the 10day moving average crossing would signal that a shortterm top has been posted.

FX - YEN

THE YEN closed lower on Thursday. Tursday's midrange close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish hinting that a shortterm bottom might be in or is near. Closes above the 20day moving average crossing would confirm that a shortterm bottom has been posted. If it renews the rally off January's high, the 25% retracement level of the OctoberJanuary rally crossing is the next downside target.

FX - SWISS FRANC

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

FX - STERLING

STERLING closed higher on Thursday and spiked above January's high renewing the rally off 2013's low. The highrange close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off last week's low, monthly resistance crossing is the next upside target. Closes below the 10day moving average crossing would confirm that a shortterm top has been posted.