FX Market Commentary 1/21/2015

FX - EURO

THE EURO closed lower on Tuesday. Today's midrange close sets the stage for a steady to steady opening when Wednesday's night session begins trading. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible nearterm. If it extends the decline off December's high, monthly support crossing is the next downside target.

FX - YEN

THE YEN closed higher on Tuesday and the highrange close sets the stage for a steady 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 the rally off October's low, weekly resistance crossing is the next upside target. If it renews the decline off January's high, the reaction low crossing is the next downside target.

FX - SWISS FRANC

THE SWISS FRANC closed lower on Tuesday and the midrange close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are bearish hinting that a high might be in or is near. If it extends Monday's rally, weekly resistance crossing is the next upside target. Closes above the 5day moving average crossing would confirm that a shortterm botom has been posted.

FX - STERLING

STERLING closed higher on Tuesday and the highrange close sets the stage for a steady to higher 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 month's decline, the 75% retracement level of 2012's rally crossing is the next downside target. Closes below the 20day moving average crossing are needed to confirm that a shortterm top has been posted.