FX - EURO
THE EURO closed lower on Monday as it extends last week's
decline. The midrange close sets the stage for a steady opening when Tuesday's
night session begins trading. Stochastics and the RSI remain 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 reaction high crossing are needed to confirm that a shortterm
top has been posted.
FX - YEN
THE YEN closed higher on Monday. The highrange close sets
the stage for a steady to higher opening when Tuesday's night session begins
trading. Stochastics and the RSI are neutral to bullish signalling that
sideways to higher pirces are possible nearterm. If it extends the rally off
January's low, the reaction high crossing is the next upside target. Closes
above the 20day moving average crossing would temper the nearterm bearish
outlook.
FX - SWISS FRANC
THE SWISS FRANC closed higher on Monday as it extends its
rally off January's low. The highrange close sets the stage for a steady to
higher opening when Tuesday'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 above the 20day moving average crossing would confirm that a low has
been posted.
FX - STERLING
STERLING closed lower on Monday. The lowrange close sets the
stage for a steady to lower opening when Tuesday's night session begins
trading. Stochastics and the RSI are 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
renews the rally off January's low, the 38% retracement level of the
JuneJanuarydecline crossing is the next upside target.
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