Forex Market Commentary 04.03.2015

FX - EURO

THE EURO closed lower on Tuesday. The lowrange close sets the stage for a steady opening when Wednesday'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 decline, monthly support crossing is the next downside target. Closes below the 20day moving average crossing are needed to confirm that a shortterm top has been posted.

FX - YEN

THE YEN closed lower on Tuesday. Tuesday's lowrange close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish hinting that a high might be in or is near. Closes below the 20day moving average crossing are needed to confirm that a shortterm high has been posted. If it extends the rally off February's low, the reaction high crossing is the next upside target.

FX - SWISS FRANC

THE SWISS FRANC closed higher on Tuesday. The highrange close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signalling 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 extends the decline off January's high, weekly support crossing is the next downside target.

FX - STERLING

STERLING closed higher on Tuesday as it extends the trading range of the past three weeks. The midrange close sets the stage for a steady opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish hinting 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 resumes the rally off February's low, monthly resistance crossing is the next upside target.