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CURRENCIES

The December Dollar closed lower on Monday. 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 diverging but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off October's low, weekly resistance crossing at 89.12 is the next upside target. Closes below the 20-day moving average crossing at 87.46 would confirm that a short-term top has been posted. First resistance is today's high crossing at 88.51. Second resistance is weekly resistance crossing at 89.12. First support is the 20-day moving average crossing at 87.46. Second support is the reaction low crossing at 85.24.

The December Euro closed higher on Monday. 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 sideways to lower prices are possible near-term. If December renews this summer's decline, monthly support crossing at 120.49 is the next downside target. Closes above last Wednesday's high crossing at 126.05 are needed to confirm that a low has been posted. First resistance is last Wednesday's high crossing at 126.05. Second resistance is the reaction high crossing at 127.75. First support is the reaction low crossing at 123.61. Second support is weekly support crossing at 120.49.

The December British Pound closed higher on Monday. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 1.5832 would confirm that a low has been posted. If December extends the decline off July's high, the 75% retracement level of the 2013-2014-rally crossing at 1.5725 is the next downside target. First resistance is the 20-day moving average crossing at 1.5832. Second resistance is the reaction high crossing at 1.6177. First support is last Wednesday's low crossing at 1.5587. Second support is the 75% retracement level of the 2013-2014-rally crossing at 1.5725.

The December Swiss Franc closed higher on Monday as it consolidates some of last Friday's decline. The high-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. If December renews the decline off July's high, monthly support crossing at 1.0166 is the next downside target. If December renews the rally off November's low, the reaction high crossing at 1.0595 is the next upside target. First resistance is last Monday's high crossing at 1.0471. Second resistance is the reaction high crossing at 1.0595. First support is the reaction low crossing at 1.0268. Second support is monthly support crossing at 1.0166.

The December Canadian Dollar closed lower on Monday as it consolidated some of the rally off November'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 neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends this month's rally, the reaction high crossing at 89.81 is the next upside target. Closes below last Thursday's low crossing at 87.90 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 89.81. Second resistance is the reaction high crossing at 90.09. First support is the reaction low crossing at 87.12. Second support is weekly support crossing at 85.30.

The December Japanese Yen closed lower on Monday. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this fall's decline, weekly support crossing at .8171 is the next downside target. Closes above the 20-day moving average crossing at .8729 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at .8551. Second resistance is the 20-day moving average crossing at .8729. First support is last Thursday's low crossing at .8406. Second support is weekly support crossing at .8171.

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