FX - EURO
THE EURO closed lower on Friday. Today's lowrange close sets
the stage for a steady to lower opening when Monday's night session begins
trading. Stochastics and the RSI have turned bearish signalling that sideways
to lower prices are possible nearterm. If it extends this week's
decline,monthly support crossing is the next downside target. Closes below the
10day moving average crossing would signal that a shortterm top has been
posted.
FX - YEN
THE YEN closed lower on Friday. The lowrange close sets the
stage for a steady to lower opening when Monday's night session begins trading.
Stochastics and the RSI are turning bearish signalling that sideways to lower
prices are possible nearterm. If it extends the decline off January's high, the
reaction low crossing is the next downside target. Closes below the 20day
moving average crossing would confirm that a shortterm top has been posted.
FX - SWISS FRANC
THE SWISS FRANC closed higher on Friday. The highrange close
sets the stage for a steady to higher opening when Monday's night session
begins trading. Stochastics and the RSI have turned neutral to bullish again
signalling that additional strength is possible nearterm. If it renews the
rally off December's low, the 87% retracement level of the NovemberDecember
decline crossing is the next upside target. Closes below the 20day moving
average crossing are needed to confirm that a shortterm high has been posted.
FX – STERLING
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