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.
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