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Weak

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CURRENCIES

The December Dollar was lower overnight as it consolidates some of 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 December extends this year's rally, weekly resistance crossing at 87.00 is the next upside target. Closes below the 20-day moving average crossing at 84.89 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 86.33. Second resistance is weekly resistance crossing at 87.00. First support is the 10-day moving average crossing at 85.44. Second support is the 20-day moving average crossing at 84.89.

The December Euro was higher due to short covering overnight as it consolidates some of 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 December extends this summer's decline, monthly support crossing at 124.56 is the next downside target. Closes above the 20-day moving average crossing at 128.38 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 127.38. Second resistance is the 20-day moving average crossing at 128.38. First support is Tuesday's low crossing at 125.78. Second support is monthly support crossing at 124.56.

The December British Pound was lower overnight as it extends the decline off September's high. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off September's high, the 50% retracement level of the 2013-2014-rally crossing at 1.6007 is the next downside target. Closes above the 10-day moving average crossing at 1.6264 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 1.6264. Second resistance is the reaction high crossing at 1.6515. First support is September's low crossing at 1.6039. Second support is the 50% retracement level of the 2013-2014-rally crossing at 1.6007.

The December Swiss Franc was slightly higher overnight as it consolidates some of 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 December extends this summer's decline, the July 2013 low crossing at 1.0374 is the next downside target. Closes above the 20-day moving average crossing at 1.0631 would confirm that a low has been posted. First resistance is the 20-day moving average crossing at 1.0641. Second resistance is the reaction high crossing at 1.0761. First support is Tuesday's low crossing at 1.0428. Second support is the July 2013 low crossing at 1.0374.

The December Canadian Dollar was higher due to short covering overnight as it consolidates some of this summer's decline. Stochastics and the RSI are oversold but are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 90.42 are needed to confirm that a short-term low has been posted. If December extends this month's decline, March's low crossing at 88.31 is the next downside target. First resistance is the 10-day moving average crossing at 89.89. Second resistance is the 20-day moving average crossing at 90.34. First support is Wednesday's low crossing at 88.93. Second support is March's low crossing at 88.31.

The December Japanese Yen was higher due to short covering overnight as it consolidates some of this summer's decline. 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 .9265 are needed to confirm that a short-term low has been posted. If December extends the decline off July's high, weekly support crossing at .9013 is the next downside target. First resistance is the 20-day moving average crossing at .9265. Second resistance is the reaction high crossing at .9369. First support is Wednesday's low crossing at .9088. Second support is weekly support crossing at .9013.

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