FX - EURO
THE EURO closed lower on Tuesday. The low range 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 near term. If it extends the rally off February's
low, monthly resistance crossing is the next upside target. Closes below the
20day moving average crossing are needed to confirm that a short term top has
been posted.
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 above the 20day moving average
crossing are needed to confirm that a short term low 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 high range
close sets the stage for a steady to higher opening when Wednesday's night
session begins trading. Stochastics and the RSI remain 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.
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