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CURRENCIES

The June Dollar was lower overnight as it extends this year's decline. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this year's decline, weekly support crossing at 92.52 is the next downside target. Closes above the 20-day moving average crossing at 94.30 are needed to confirm that a bottom has been posted. First resistance is the reaction high crossing at 95.18. Second resistance is the reaction high crossing at 96.42. First support is the overnight low crossing at 92.78. Second support is weekly support crossing at 92.52.

The June Euro was higher overnight as it extends last week's rally and posted a new high for the year. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends this year's rally, last October's high crossing at 115.36 is the next upside target. Closes below the 10-day moving average crossing at 113.51 are needed to confirm that a short-term top has been posted. First resistance is the overnight high crossing at 115.07. Second resistance is last October's high crossing at 115.36. First support is the 10-day moving average crossing at 113.51. Second support is April's low crossing at 112.34.

The June British Pound were higher overnight as it extends the rally off February's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the aforementioned rally, the reaction high crossing at 1.4950 is the next upside target. Closes below the 20-day moving average crossing at 1.4341 would confirm that a short-term top has been posted. First resistance is April's high crossing at 1.4675. Second resistance is the reaction high crossing at 1.4950. First support is the 10-day moving average crossing at 1.4497. Second support is the 20-day moving average crossing at 1.4341.

The June Swiss Franc was slightly higher overnight as it extends last Friday's rally above the 20-day moving average. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends last Friday's rally, April's high crossing at 1.0556 is the next upside target. Closes below the 20-day moving average crossing at 1.0340 would confirm that a short-term top has been posted. First resistance is April's high crossing at 1.0556. Second resistance is last October's high crossing at 1.0639. First support is the 10-day moving average crossing at 1.0340. Second support is April's low crossing at 1.0227.

The June Canadian Dollar was slightly higher overnight as it extends this year's rally. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the aforementioned rally, the 50% retracement level of the 2013-2016-decline crossing at 81.93 is the next upside target. Closes below the 20-day moving average crossing at 78.28 are needed to confirm that a short-term top has been posted. First resistance is last Friday's high crossing at 80.04. Second resistance is the 50% retracement level of the 2013-2016-decline crossing at 81.93. First support is the 10-day moving average crossing at 79.27. Second support is the 20-day moving average crossing at 78.28.

The June Japanese Yen was slightly higher overnight as it extends this year's rally. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the aforementioned rally, weekly resistance crossing at 0.9543 is the next upside target. Closes below the 10-day moving average crossing at 0.9140 would confirm that a short-term low has been posted. First resistance is weekly resistance crossing at 0.9370. Second resistance is weekly resistance crossing at 0.9543. First support is the 10-day moving average crossing at 0.9140. Second support is April's low crossing at 0.8947.

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