HYMarkets Posted October 22, 2012 Report Share Posted October 22, 2012 FX - EURO The EURO closed lower on Friday as it consolidated some of last week's rally. The lowrange close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends this month's rally, September's high crossing is the next upside 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 as it extends this month's rally, and the midrange close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible. If it extends this month's rally, August's high crossing is the next upside target. Closes below the 20day moving average would confirm that a shortterm high has been posted. FX - SWISS FRANC The SWISS FRANC closed higher on Friday as it consolidated some of last week's decline. The highrange close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible nearterm. If it extends last week's decline, the 25% retracement level of the 20112012decline crossing is the next downside target. FX - STERLING STERLING closed lower on Friday as it consolidated some of last week's rally. 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 bullish signalling that sideways to higher prices are possible nearterm. If it extends last week's rally, the reaction high crossing is the next upside target. Link to comment Share on other sites More sharing options...
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