FX Market Commentary 1/13/2015

FX - EURO

THE EURO closed lower on Monday and the midrange close sets the stage for a steady 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 the aforementioned decline, monthly support crossing is the next downside target. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted.

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. If it extends Tuesday's decline, December's low crossing is the next downside target. Closes above the reaction high crossing would open the door for a possible test of December's high crossing.

FX - SWISS FRANC

THE SWISS FRANC closed higher on Monday and the midrange close sets the stage for a steady 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 this winter's rally, monthly resistance crossing is the next upside target. Closes above the 20day moving average crossing are needed to confirm that a low has been posted.

FX – STERLING

STERLING closed higher on Monday and the highrange close sets the stage for a steady to higher 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 the decline off July's high, monthly support crossing is the next downside target. Closes below the 20day moving average crossing are needed to confirm that a top has been posted.