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CURRENCIES

The March Dollar closed higher on Friday ending a two-day setback off Wednesday's high. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 100.35 would confirm that a short-term top has been posted. Closes above Wednesday's high crossing at 101.75 are needed to confirm that a short-term low has been posted. First resistance is Wednesday's high crossing at 101.75. Second resistance is January's crossing at 103.82. First support is February's low crossing at 99.19. Second support is the 50% retracement level of the August-January-rally crossing at 98.90.

The March Euro closed lower on Friday ending a two-day rebound off Wednesday's low. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that a short-term low might be in or is near. Closes above the 20-day moving average crossing at 107.08 would confirm that a short-term low has been posted. If March renews the aforementioned decline, the reaction low crossing at 104.81 is the next downside target. First resistance is the 38% retracement level of the August-January-decline crossing at 107.85. Second resistance is the 50% retracement level of the August-January-decline crossing at 109.14. First support is Wednesday's low crossing at 105.31. Second support is January's low crossing at 103.73.

The March British Pound closed lower on Friday as it extends the trading range of the past three-weeks. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last Tuesday's low crossing at 1.2353 are needed to confirm that a short-term top has been posted. If March renews the rally off January's low, December's high crossing at 1.2804 is the next upside target. First resistance is February's high crossing at 1.2715. Second resistance is December's high crossing at 1.2804. First support is last Tuesday's low crossing at 1.2353. Second support is January's low crossing at 1.2001.

The March Swiss Franc closed lower on Friday as it consolidated some of the rally off Wednesday's low. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off Wednesday's low, January's high crossing at 1.0163 is the next upside target. Closes below the 50-day moving average crossing at 0.9915 would open the door for additional weakness near-term. First resistance is January's high crossing at 1.0163. Second resistance is the 62% retracement level of the November-January-decline crossing at 1.0215. First support is the 50-day moving average crossing at 0.9915. Second support is the reaction low crossing at 0.9789.

The March Canadian Dollar closed lower on Friday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. The mid-range close sets the stage for a steady opening when Tuesday's night session begins trading. If March renews the rally off December's low, the 75% retracement level of the August-January-decline crossing at 77.21 is the next upside target. If March renewed the decline off January's high, the 50-day moving average crossing at 75.69 is the next downside target. First resistance is the 75% retracement level of the August-January-decline crossing at 77.21. Second resistance is the 87% retracement level of the August-January-decline crossing at 77.78. First support is the 50-day moving average crossing at 75.69. Second support is the reaction low crossing at 74.73.

The March Japanese Yen closed higher on Friday. The high-range close sets the stage for a steady to higher opening when the Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews the rally off January's low, the 38% retracement of the August-January-decline crossing at 0.9099 is the next upside target. Closes below the 50-day moving average crossing at 0.8723 would open the door for a larger-degree decline during the last half of February. First resistance is February's high crossing at 0.8971. Second resistance is the 38% retracement of the August-January-decline crossing at 0.9099. First support is the 50-day moving average crossing at 0.8723. Second support is the reaction low crossing at 0.8678.

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