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.
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