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.