FX - EURO
THE EURO closed lower on Tuesday as it extends this year's
decline. The lowrange close sets the stage for a steady to lower opening when
Wednesday'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 this year's decline, monthly support crossing is the
next downside target. Closes above last Tuesday's high crossing would confirm
that a shortterm low has been posted.
FX - YEN
THE YEN closed higher on Tuesday. The highrange close sets
the stage for a steady to higher opening when Wednesday'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 this year's
rally, weekly resistance crossing is the next upside target. If it renews the
decline off December's high, the 25% retracement level of the 20132014rally
crossing is the next downside target.
FX - SWISS FRANC
THE SWISS FRANC closed higher on Tuesday extending this
month's rally. The highrange close sets the stage for a steady to higher
opening when Wednesday's night session begins trading. Stochastics and the RSI
remain bullish signalling that sideways to higher prices are possible nearterm.
If it extends the rally off July's low, monthly resistance crossing is the next
upside target. Closes below last Tuesday's low crossing is the next downside
target.
FX - STERLING
STERLING closed lower on Tuesday marking a downside breakout
of the trading range of the past fiveweeks. The lowrange 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 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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