EURO closed lower on Tuesday. The lowrange close sets the stage for a steady to lower 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, the 50% retracement level of the 20132014rally crossing is the next downside target. Closes above the 20day moving average crossing would confirm that a low has been posted.
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 bullish signalling that sideways to higher prices are possible nearterm. If it extends last week’s rally, July’s high crossing is the next upside target. Closes below the 10day moving average crossing would temper the bullish outlook.
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 remain neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off July’s low, the 38% retracement level of the 20132014decline crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a shortterm high has been posted.
STERLING closed lower on Tuesday. The lowrange close sets the stage for a steady to lower 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 the decline off last week’s high, the reaction low crossing is the next downside target. Closes above the 20day moving average crossing would confirm that a low has been posted.
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