Monday 2 March 2015

Forex Market Commentary 02.03.2015


FX – EURO


THE EURO closed lower on Friday as it extends this week's decline. The lowrange close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signalling that sideways to lower prices are possible nearterm. If it renews this winter's decline, monthly support crossing is the next downside target.Closes below the 20day moving average crossing would confirm that a shortterm top has been posted.

FX - YEN


THE YEN closed higher on Friday. The highrange close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signalling that sideways to higher prices are possible nearterm. If it renews the rally off January's low, the reaction high crossing is the next upside target. Closes above the 20day moving average crossing would confirm that a shortterm low has been posted.

FX - SWISS FRANC


THE SWISS FRANC closed lower on Friday. The highrange close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off January's low, the 75% retracement level of January's decline crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a high has been posted.

FX - STERLING



STERLING closed higher on Friday. The highrange close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signalling that sideways to lower prices are possible nearterm. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted. If it extends the rally off January's low, the 38% retracement level of the JuneJanuarydecline crossing is the next upside target.

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