FX – EURO
THE EURO closed lower on Friday as it extends this week's
decline. The lowrange close sets the stage for a steady to lower opening when
Monday'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 this winter's decline, monthly support crossing is the next downside
target.Closes below the 20day moving average crossing would confirm that a
shortterm top has been posted.
FX - YEN
THE YEN 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 are turning neutral to bullish signalling that
sideways to higher prices are possible nearterm. If it renews the rally off
January's low, the reaction high crossing is the next upside target. Closes
above the 20day moving average crossing would confirm that a shortterm low has
been posted.
FX - SWISS FRANC
THE SWISS FRANC closed lower 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 remain neutral to bullish signalling
that sideways to higher prices are possible nearterm. If it extends the rally
off January's low, the 75% retracement level of January's decline crossing is
the next upside target. Closes below the 20day moving average crossing would
confirm that a high has been posted.
FX - STERLING
STERLING 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 are turning neutral to bearish signalling that
sideways to lower prices are possible nearterm. Closes below the 20day moving
average crossing would confirm that a shortterm top has been posted. If it
extends the rally off January's low, the 38% retracement level of the
JuneJanuarydecline crossing is the next upside target.
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