FX - EURO
THE EURO closed lower on Wednesday and the lowrange close
sets the stage for a steady to lower opening on Thursday. 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 this winter's rally, weekly
resistance crossing is the next upside target.
FX - YEN
THE YEN closed lower on Wednesday. The lowrange close sets the
stage for a steady opening when Thursday'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 Wednesday. The midrange
close sets the stage for a steady opening when Thursday'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 January's
low, January's high crossing is the next upside target. If it renews the
decline off January's high, January's low crossing is the next downside target.
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 have turned bullish hinting that a low
might be in or is near. Closes above the 20day moving average crossing are
needed to confirm that a shortterm low has been posted. If it renews this
year's decline, monthly support crossing is the next downside target.
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