FX - EURO
THE EURO closed lower on Tuesday and the lowrange close sets
the stage for a steady to lower opening on Wednesday. Stochastics and the RSI
remain neutral to bearish signalling that sideways to lower prices are possible
nearterm. If it renews last week's decline, monthly support is the next
downside target. Closes below the 10day moving average crossing are needed to
confirm that a shortterm top has been posted.
FX - YEN
THE YEN closed lower on Tuesday and 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 bullish signalling that
additional strength is possible nearterm. If it extends the rally off October's
low, weekly resistance crossing is the next upside target. Closes below the
20day moving average crossing are needed to confirm that a shortterm top has
been posted.
FX - SWISS FRANC
THE SWISS FRANC 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 bullish signalling
that sideways to higher prices are possible nearterm. If it renews last week's
rally, monthly resistance is the next upside target. Closes above last
Wednesday's high crossing are needed to confirm that a shortterm low has been
posted.
FX - STERLING
STERLING closed lower on Tuesday renewing last week'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 are neutral
to bearish signalling that sideways to lower prices are possible nearterm. If
it renews last week's decline,weekly support is the next downside target.
Closes below the 20day moving average crossing are needed to confirm that a
shortterm top has been posted.
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