FX - EURO
THE EURO closed lower on Monday as it extends this year's
decline. The lowrange close sets the stage for a steady to lower opening when
Tuesday's night session begins trading. Stochastics and the RSI are oversold
but 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 the 20day moving average crossing
would confirm that a shortterm low has been posted.
FX - YEN
THE YEN closed slightly higher on Monday. The highrange
close sets the stage for a steady to higher 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 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 Monday as it extends this
month's rally. The highrange close sets the stage for a steady to higher
opening when Tuesday'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 the 20day moving average crossing are needed to
confirm that a high has been posted.
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 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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