FX Market Commentary 28.01.2015

FX - EURO

THE EURO closed higher on Tuesday. The highrange close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends today's rally, weekly resistance crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted.

FX - YEN

THE YEN closed lower on Tuesday. The lowrange close sets the stage for a steady opening when Wednesday's night session begins trading. Stochastics and the RSI remain bullish signalling that additional strength is possible nearterm. If it extends the decline off December's high, monthly support crossing is the next downside target. Closes below the 20day moving average crossing are needed to confirm that a shortterm bottom has been posted.

FX - SWISS FRANC

THE SWISS FRANC 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 are bearish hinting that a high might be in or is near. If it extends today's decline, the reaction low crossing is the next upside target. Closes above the 10day moving average crossing would confirm that a shortterm botom has been posted.

FX - STERLING

STERLING closed higher don 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, monthly support crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a shortterm low has been posted