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CURRENCIES

The June Dollar closed lower on Thursday as it consolidated some of this month's rally. The mid-range close sets the stage for a steady opening when Friday's night session begins trading. 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 rally off May's low, the 50% retracement level of the December-May-decline crossing at 96.28 is the next upside target. Closes below the 20-day moving average crossing at 94.32 would confirm that a short-term top has been posted. First resistance is the 50% retracement level of the December-May-decline crossing at 96.28. Second resistance is the 62% retracement level of the December-May-decline crossing at 97.32. First support is the 10-day moving average crossing at 95.06. Second support is the 20-day moving average crossing at 94.32.

The June Euro closed higher due to short covering on Thursday as it consolidated some of the decline off May's high. The mid-range close sets the stage for a steady to higher opening when Friday'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 June extends this month's decline, the 50% retracement level of the December-May-rally crossing at 111.07 is the next downside target. Closes above the 20-day moving average crossing at 113.42 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 112.38. Second resistance is the 20-day moving average crossing at 113.42. First support is Wednesday's low crossing at 111.34. Second support is the 50% retracement level of the December-May-rally crossing at 111.07.

The June British Pound closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off February's low, May's high crossing at 1.4771 is the next upside target. Closes below Monday's low crossing at 1.4442 would confirm that a short-term top has been posted. First resistance is May's high crossing at 1.4771. Second resistance is the reaction high crossing at 1.4950. First support is the reaction low crossing at 1.4285. Second support is the reaction low crossing at 1.4092.

The June Swiss Franc closed higher due to short covering on Thursday as it consolidated some of this month's decline. The high-range close sets the stage for a steady to higher opening when Friday'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 June extends the aforementioned decline, the 75% retracement level of the January-May-rally crossing at 1.0014 is the next downside target. Closes above the 20-day moving average crossing at 1.0261 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 1.0148. Second resistance is the 20-day moving average crossing at 1.0261. First support is today's low crossing at 1.0059. Second support is the 75% retracement level of the January-May-rally crossing at 1.0014.

The June Canadian Dollar higher due to short covering on Thursday as it consolidated some of the decline off May's high. The mid-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 77.44 are needed to confirm that a low has been posted. If June renews the decline off May's high, April's low crossing at 75.65 is the next downside target. First resistance is the 20-day moving average crossing at 77.44. Second resistance is May's high crossing at 0.8025. First support is Tuesday's low crossing at 75.82. Second support is April's low crossing at 75.65.

The June Japanese Yen closed higher on Thursday. The mid-range close sets the stage for a steady to lower opening when Friday'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 June extends this month's decline, April's low crossing at .8947 is the next downside target. Closes above the 20-day moving average crossing at .9215 would temper the near-term bearish outlook. First resistance is the 20-day moving average crossing at .9215. Second resistance is May's high crossing at 0.9483. First support is last Friday's low crossing at .9046. Second support is April's low crossing at .8947.

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