FX - EURO
THE EURO closed higher on Tuesday and the highrange close
sets the stage for a steady to higher opening on Wednesday. Stochastics and the
RSI are turning 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 extends January's rally, weekly resistance
crossing is the next upside target.
FX - YEN
THE YEN closed higher 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 bullish signalling that
sideways to lower prices are possible nearterm. If it extends the decline off
January's high, the 62% retracement level of the OctoberJanuary rally crossing
is the next downside target. Closes above the 20day moving average crossing
would confirm that a shortterm bottom has been posted.
FX - SWISS FRANC
THE SWISS FRANC closed lower on Tuesday and the midrange
close sets the stage for a steady to lower 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
the aforementioned rally, weekly resistance crossing is the next upside target.
Closes below the 20day moving average crossing would confirm that a shortterm
bottom has been posted.
FX - STERLING
STERLING closed slightly higher on Tuesday as it
consolidated some of Monday's decline. The highrange close sets the stage for a
steady to higher opening when Wednesday's night session begins trading.
Stochastics and the RSI remain bearish signalling that sideways to lower prices
are possible nearterm. If it extends Monday's decline,weekly support crossing
is the next downside target. Closes above the 10day moving average crossing
would confirm that a shortterm low has been posted.
No comments:
Post a Comment