FX - EURO
THE EURO closed higher on Tuesday and the low range close
sets the stage for a steady to lower opening when Wednesday's night session
begins trading. Stochastics and the RSI are neutral to bullish hinting that a
short term low might be in or near. Closes below the 20day moving average
crossing would confirm that a short term high has been posted. If it extends the
decline off February's high, monthly support crossing is the next downside
target.
FX - YEN
THE YEN closed lower on Tuesday and the low range close sets
the stage for a steady to lower opening on Wednesday. Stochastics and the RSI
remain neutral to bullish signalling that sideways to higher prices are
possible near term. If it renews the rally off September's low, monthly resistance
crossing is the next upside target. Closes above the 20day moving average
crossing are needed to confirm that a short term low has been posted.
FX - SWISS FRANC
THE SWISS FRANC closed lower on Tuesday and the high range
close sets the stage for a steady to higher opening on Wednesday. Stochastics
and the RSI are turning bearish signalling that sideways to lower prices are
possible near term. Closes above the 20day moving average crossing are needed to
confirm that a short term low has been posted. If it renews the rally off
February's low,monthly resistance crossing is the next upside target.
FX - STERLING
STERLING closed lower on Tuesday as it extends the trading
range of the past four weeks. The low range close sets the stage for a steady to
lower opening when Tuesday's night session begins trading. Stochastics and the
RSI are turning neutral to bearish signalling that sideways to lower prices are
possible near term. Closes below the 20day mo
ving average crossing would confirm
that a short term high has been posted.
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