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CURRENCIES

The March Dollar posted an inside day with a higher close on Friday. The mid-range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off last Friday's low, February's high crossing at 90.46 is the next upside target. If March renews the decline off November's high, weekly support crossing at 87.45 is the next downside target. First resistance is February's high crossing at 90.46. Second resistance is the 50-day moving average crossing at 90.70. First support is last Friday's low crossing at 88.15. Second support is weekly support crossing at 87.45.

The March Euro posted an inside day with a lower close on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this week's decline, February's low crossing at 122.33 is the next downside target. If March renews the rally off February's low, weekly resistance crossing at 126.74 is the next upside target. First resistance is last Friday's high crossing at 125.80. Second resistance is weekly resistance crossing at 126.74. First support is February's low crossing at 122.33. Second support is the 50-day moving average crossing at 122.05.

The March British Pound closed slightly higher on Friday. The mid-range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews the rally off February's low, February's high crossing at 1.4300 is the next upside target. If March extends the decline off January's high, the 50-day moving average crossing at 1.3794 is the next downside target. First resistance is last Friday's high crossing at 1.4160. Second resistance is February's high crossing at 1.4300. First support is February's low crossing at 1.3780. Second support is January's low crossing at 1.3486.

The March Swiss Franc closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Wednesday'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 February's low crossing at 1.0589 are needed to confirm that a short-term top has been posted. If March renews the rally off last October's low, the 38% retracement level of the 2015-2016-decline crossing at 1.0994 is the next upside target. First resistance is February's high crossing at 1.0908. Second resistance is the 38% retracement level of the 2015-2016-decline crossing at 1.0994. First support is February's low crossing at 1.0589. Second support is the 50-day moving average crossing at 1.0485.

The March Canadian Dollar closed higher due to short covering on Friday as it consolidates some of the decline off January's high. The mid-range close sets the stage for a steady to higher opening when Monday'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 the decline off January's high, the 87% retracement level of the December-January-rally crossing at 78.06 is the next downside target. Closes above the 20-day moving average crossing at 79.98 are needed to confirm that a short-term low has been posted. First resistance is last Friday's high crossing at 80.35. Second resistance is January's high crossing at 81.68. First support is the 75% retracement level of the December-January-rally crossing at 78.56. Second support is the 87% retracement level of the December-January-rally crossing at 78.06.

The March Japanese Yen closed slightly higher due to short covering on Friday as it consolidated some of this week's decline. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews the rally off January's low, the 62% retracement level of 2016's trading range crossing at 0.9680 is the next upside target. Closes below the 20-day moving average crossing at 0.9258 are needed to confirm that a short-term top has been posted. First resistance is the 50% retracement level of 2016's trading range crossing at 0.9491. Second resistance is the 62% retracement level of 2016's trading range crossing at 0.9680. First support is Wednesday's low crossing at 0.9281. Second support is the 20-day moving average crossing at 0.9258.

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