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CURRENCIES

The December Dollar was higher overnight while extending this month's trading range. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. Closes below the 50-day moving average crossing at 92.66 would confirm that a short-term top has been posted. If December renews the rally off September's low, the 38% retracement level of the January-September-decline crossing at 95.57 is the next upside target. First resistance is the 25% retracement level of the January-September-decline crossing at 93.92. Second resistance is the 38% retracement level of the January-September-decline crossing at 95.57. First support is the 50-day moving average crossing at 92.66. Second support is September's low crossing at 90.79.

The December Euro was lower overnight while extending the trading range of the past four-weeks. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 119.04 would confirm that a short-term low has been posted. If December renews the decline off September's high, the 38% retracement level of the January-September-rally crossing at 115.51 is the next downside target. First resistance is the 50-day moving average crossing at 119.04. Second resistance is the reaction high crossing at 120.92. Third resistance is September's high crossing at 121.54. First support is the 25% retracement level of the January-September-rally crossing at 117.62. Second support is the 38% retracement level of the January-September-rally crossing at 115.51.

The December British Pound was higher overnight and is working on a possible upside reversal as it consolidates some of this week's decline. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 1.3288 would confirm that a short-term low has been posted. If December renews the decline off September's high, the 75% retracement level of the July-September-rally crossing at 1.2924 is the next downside target. First resistance is the 20-day moving average crossing at 1.3288. Second resistance is September's high crossing at 1.3695. First support is the 62% retracement level of the June-September-rally crossing at 1.3061. Second support is the 75% retracement level of the June-September-rally crossing at 1.2924.

The December Swiss Franc were lower overnight and has renewed the decline off September's high. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews the decline off September's high, the 75% retracement level of the December-July-rally crossing at 1.0138 is the next downside target. Closes above the 20-day moving average crossing at 1.0305 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.0305. Second resistance is the 50-day moving average crossing at 1.0402. First support is the 75% retracement level of the December-July-rally crossing at 1.0138. Second support is the 87% retracement level of the December-July-rally crossing at 1.0049.

The December Canadian Dollar was steady to slightly higher overnight as it extends this month's trading range. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 80.44 would confirm that a short-term low has been posted. If December resumes the decline off September's high, the reaction low crossing at 79.06 is the next downside target. First resistance is the 50-day moving average crossing at 80.44. Second resistance is the reaction high crossing at 81.64. First support is the reaction low crossing at 79.39. Second support is the reaction low crossing at 79.06.

The December Japanese Yen was lower overnight as it extends this week's decline. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, July's low crossing at 0.8802 is the next downside target. Closes above Monday's high crossing at 0.8980 would confirm that a short-term low has been posted. First resistance is Monday's high crossing at 0.8980. Second resistance is the reaction high crossing at 0.9006. First support is the overnight low crossing at 0.8834. Second support is July's low crossing at 0.8802.

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