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CURRENCIES

The March Dollar closed higher on Monday as it extends this winter's rally. 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 overbought, diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off October's low, weekly resistance crossing at 96.16 is the next upside target. Closes below the 20-day moving average crossing at 92.34 would confirm that a short-term top has been posted. First resistance is today's high crossing at 95.85. Second resistance is weekly resistance crossing at 96.16. First support is the 10-day moving average crossing at 93.35. Second support is the 20-day moving average crossing at 92.34.

The March Euro closed slightly higher on Monday as it consolidated some of this winter's decline. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this winter's decline, monthly support crossing at 107.59 is the next downside target. Closes above the 20-day moving average crossing at 117.83 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 115.67. Second resistance is the 20-day moving average crossing at 117.83. First support is today's low crossing at 111.02. Second support is weekly support crossing at 107.59.

The March British Pound closed higher due to short covering 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 oversold, diverging but are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 1.5224 are needed to confirm that a low has been posted. If March extends the decline off July's high, monthly support crossing at 1.4806 is the next downside target. First resistance is the 20-day moving average crossing at 1.5224. Second resistance is the reaction high crossing at 1.5612. First support is last Friday's low crossing at 1.4946. Second support is monthly support crossing at 1.4806.

The March Swiss Franc closed sharply lower on Monday as it continues to consolidate some of this month's rally. 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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 1.0489 would confirm that a short-term top has been posted. If March extends this month's rally, monthly resistance crossing at 1.2503 is the next upside target. First resistance is the reaction high crossing at 1.1862. Second resistance is monthly resistance crossing at 1.2503. First support is the 10-day moving average crossing at 1.0987. Second support is the 20-day moving average crossing at 1.0489.

The March Canadian Dollar closed lower on Monday as it extends this winter's decline. 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 March extends this winter's decline, monthly support crossing at 78.71 is the next downside target. Closes above the 20-day moving average crossing at 83.66 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 82.22. Second resistance is the 20-day moving average crossing at 83.66. First support is today's low crossing at 80.09. Second support is monthly support crossing at 78.71.

The March 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at .8427 would confirm that a short-term top has been posted. If March renews this month's rally, December's high crossing at .8663 is the next upside target. First resistance is December's high crossing at .8663. Second resistance is the 25% retracement level of the 2013-2014-decline crossing at .8773. First support is the 20-day moving average crossing at .8427. Second support the reaction low crossing at .8282.

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