FX – EURO
THE EURO closed lower on Wednesday. The lowrange close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bearish signalling that sideways to lower prices are possible nearterm. If it renews this year's decline, monthly support crossing is the next downside target. Closes above the reaction high crossing are needed to confirm that a low has been posted.
FX – YEN
THE YEN closed higher on Wednesday. The highrange close sets
the stage for a steady to higher opening when Thursday'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 this fall's rally,
weekly resistance crossing is the next upside target. Closes below the 20day
moving average crossing are needed to confirm that a shortterm high has been
posted.
FX - SWISS FRANC
THE SWISS FRANC closed higher on Wednesday. The highrange
close sets the stage for a steady to higher opening when Thursday's night
session begins trading. Stochastics and the RSI are neutral to bullish
signalling that sideways to higher prices are possible nearterm. If it renews
the rally off July's low, monthly resistance crossing is the next upside
target. If it renews the decline off November's high, the reaction low crossing
is the next downside target.
FX - STERLING
STERLING closed higher on Wednesday. The midrange close sets
the stage for a steady opening when Thursday's night session begins trading.
Stochastics and the RSI are turning neutral to bearish signalling that sideways
to lower prices are possible nearterm. If it resumes the decline off July's
high, the 75% retracement level of the 20132014rally crossing is the next
downside target. Closes above the 20day moving average crossing are needed to
confirm that a low has been posted.
The Daily FX Market Commentary brougth to you by HY Markets in collaboration with JP&Partners Worldwide. All rights reserved.
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