Market Commentary

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CURRENCIES

CURRENCIES: The June Euro currency closed down 9 points at 1.2728 today. Prices closed near mid-range today and hit another fresh four-month low. Bears have the solid near-term technical advantage. Prices are in an 11-week-old downtrend on the daily bar chart.

The June Japanese yen closed up 3 points at 1.2462 today. Prices closed near the session high today. Bulls still have the overall near-term technical advantage. Prices are in a gentle two-month-old uptrend on the daily bar chart.

The June Swiss franc closed down 10 points at 1.0597 today. Prices closed near mid-range today and hit another fresh four-month low. The bears have the solid near-term technical advantage in the Swissy. Prices are in a 2.5- month-old downtrend.

The June Canadian dollar closed down 72 points at .9875 today. Prices closed nearer the session low today and hit a fresh four-month low. Bulls are fading and bears have the slight near-term technical advantage.

The June British pound closed down 86 points at 1.5914 today. Prices closed nearer the session low and hit a fresh four-week low today. Bulls have faded and are on a level near-term technical playing field with the bears. A four- month-old uptrend on the daily bar chart has been negated.

The June U.S. dollar index closed up 14 points at 81.52 today. Prices closed near mid-range today and hit another fresh four-month high. More safe-haven buying of the greenback was seen today. Bulls have gained solid upside near-term technical momentum and have the solid overall near-term technical advantage.