FX – EURO
THE EURO closed lower on Monday. The midrange close sets the
stage for a steady to lower opening when Tuesday'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 last week's
rally, November's high crossing is the next upside target. If it renews this
year's decline, monthly support crossing is the next downside target.
FX – YEN
THE YEN closed lower on Monday. The lowrange close sets the
stage for a steady to lower opening when Tuesday's night session begins
trading. Stochastics and the RSI are neutral to bearish signalling that
sideways to lower prices are possible nearterm. Monday's close below the 20day
moving average crossing are needed to confirm that a shortterm high has been
posted. If it renews this year's rally, weekly resistance crossing is the next
upside target.
FX - SWISS FRANC
THE SWISS FRANC closed higher on Monday but remains below
the 20day moving average crossing confirming that a high has been posted. The
highrange close sets the stage for a steady to higher opening when Tuesday's
night session begins trading. Stochastics and the RSI remain neutral to bearish
signalling that sideways to lower prices are possible nearterm. If it extends
last week's decline, November's low crossing is the next downside target. If it
renews the rally off July's low, monthly resistance crossing is the next upside
target.
FX - STERLING
STERLING closed lower on Monday. The lowrange 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 nearterm. If it extends the decline off
July's high, monthly support crossing is the next downside target. Closes above
the reaction high crossing are needed to confirm that a low has been posted.
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