THE EURO closed lower on Tuesday and the highrange close
sets the stage for a steady to higher opening on Wednesday. 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 NovemberJanuary
uptrend line crossing is the next downside target. Closes above the 20day
moving average crossing would temper the nearterm bearish outlook.
FX - YEN
THE YEN closed higher on Tuesday. Tuesday's highrange close
sets the stage for a steady to higher opening when Wednesday's night session
begins trading. Stochastics and the RSI are neutral to bullish hinting that a
shortterm bottom might be in or is near. Closes above the 20day moving average
crossing would confirm that a shortterm bottom has been posted. If it renews
the decline off January's high, the 62% retracement level of the OctoberJanuary
rally crossing is the next downside target.
FX - SWISS FRANC
THE SWISS FRANC closed higher on Tuesday. The highrange
close sets the stage for a steady to higher 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 extends
the aforementioned decline, the reaction low crossing is the next downside
target. If it renews the rally off January's low, January's high crossing is
the next upside target.
FX - STERLING
STERLING closed higher on Tuesday and above the 20day moving average crossing confirming that a shortterm low has been posted. The highrange close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that a low might be in or is near. If it extends the rally off last week's low, January's high crossing is the next upside target.
ReplyDeleteCouldn't be written any better. Reading this post reminds me of my old room mate! He always kept talking about this. I will forward this article to him. Pretty sure he will have a good read. Thanks for sharing!
Sienna
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