The EURO closed higher on Tuesday and the high range close sets the stage for a steady to higher opening on Wednesday. Stochastic and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near term. Closes below the 20day moving average crossing would confirm that a short-term top has been posted. If it renews the rally off November's low, September's high crossing is the next upside target.
The YEN closed higher on Tuesday and the high range close sets the stage for a steady o higher opening when Wednesday's night session begins trading. Stochastic and the RSI are neutral to bearish hinting that a high might be in or is near. Closes below the reaction low crossing are needed to confirm that a short-term bottom has been posted. If it renews this fall's rally, March's high crossing are the next upside target.
The SWISS FRANC closed lower on Tuesday and the low range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastic and the RSI remain bullish signaling that sideways to higher prices are possible near term. Closes above the reaction high crossing would confirm that a short-term high has been posted. If it renews the decline off November's low, October's low crossing is the next downside target.
STERLING closed higher on Tuesday and the high range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastic and the RSI are neutral to bearish hinting that a short-term top might be in or is near. Closes below the 20day moving average crossing are needed to confirm that a short-term top has been posted. If it renews the rally off November's low, November's high crossing is the next upside target.
IMOH, Patrick E.
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