FX - EURO
THE EURO closed lower on Friday as it extends last week's decline. The mid range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signalling that a shortterm top might be in or is near. If it extends this week's decline, the 25% retracement level of the June March rally crossing is the next downside target. If it renews this month's rally, March's high crossing is the next upside target.
FX - YEN
THE YEN closed lower on Friday. The low range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible near term. Closes below March's low crossing are needed to renew the decline off March's high, March's high crossing is the next upside target.
FX - SWISS FRANC
THE SWISS FRANC closed lower on Friday. The mid range 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 near term. If it extends last week's decline, the 38% retracement level of the January March rally crossing is the next downside target. Closes above Monday's high crossing would confirm that a triple bottom has been posted.
FX - STERLING
STERLING closed higher on Friday as it extends last week's rally. The mid range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible near term. If it extends last week's rally, the reaction high crossing is the next upside target.
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