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CURRENCIES: The December Euro currency closed up 6 points at 1.1395 today. Prices closed near mid-range and hit another three-week high today. The bulls have the slight near-term technical advantage. Prices are in a three-week-old uptrend on the daily bar chart.
The December Japanese yen closed up 80 points at .83525 today. Prices closed near mid-range. The yen bulls and bears are still on a level near-term technical playing field amid choppy and sideways trading.
The December Swiss franc closed up 31 points at 1.0461 today. Prices closed nearer the session high, hit a three- week high and scored a bullish “outside day” up on the daily bar chart today. The bears still have the overall near-term technical advantage. However, prices have been trending higher for the past three weeks.
The December Canadian dollar closed down 22 points at .7688 today. Prices closed nearer the session high on more of a corrective pullback after hitting a seven-week high last Friday. While the bears still have the overall near-term technical advantage, the bulls have gained some upside momentum recently to suggest a market bottom is in place. But bulls need to show fresh power soon to keep momentum.
The December British pound closed down 112 points at 1.5242 today. Prices closed nearer the session low after poking to a three-week high early on today. Prices also scored a big and bearish “outside day” down on the daily bar chart. The bears have the overall near-term technical advantage and regained some downside momentum today.
The December U.S. dollar index closed up .005 at 94.760 today. Prices closed near mid-range and hit another three- week low today. The bears have the slight near-term technical advantage.