FX - EURO
THE EURO closed sharply lower on Friday extending the
decline off the May 2014 high. The low range close sets the stage for a steady
to lower opening when Monday's night session begins trading. Stochastics and
the RSI are oversold but remain neutral to bearish signalling that sideways to
lower prices are possible nearterm. If it extends this winter's decline,
monthly support crossing is the next downside target. Closes below the 20 day
moving average crossing are needed to confirm that a short term top has been
posted.
FX - YEN
THE YEN closed higher on Friday as it extends a threemonth
old trading range. The midrange close sets the stage for a steady opening when
Monday'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 January's low, December's high crossing is the next
upside target. Closes above the 20day moving average crossing would temper the
nearterm bearish outlook.
FX - SWISS FRANC
THE SWISS FRANC closed higher on Friday as it extends its
rally off January's low. 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 87%
retracement level of January's decline crossing is the next upside target.
Closes above the 20 day moving average crossing would confirm that a low has
been posted.
FX - STERLING
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