FX - EURO
THE EURO closed lower on Tuesday. 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 turning neutral to bullish hinting that a
short term low might be in or is near. Closes above the 10day moving average
crossing would temper the near term bearish outlook. If it renews the decline
off March's high, the reaction low crossing is the next downside target.
FX -
YEN
THE YEN closed lower on Tuesday. Tuesday's low range 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 short term 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 lower on Tuesday. 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 bearish signalling that
sideways to lower prices are possible near term. If it extends the decline off January's
high, weekly support crossing is the next downside target. Closes above the
20day moving average crossing would confirm that a short term bottom has been
posted.
FX -
STERLING
STERLING closed lower on Tuesday as it extended Monday's
breakout below the 20day moving average crossing. 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 bearish signalling that sideways to lower
prices are possible near term. Closes below the reaction low crossing would
confirm a downside breakout of a four week old trading range and would open the
door for additional weakness near term.
No comments:
Post a Comment