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CURRENCIES

The December Dollar closed higher on Friday as it extends this year's rally. 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 overbought, diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off May's low, weekly resistance crossing at 87.00 is the next upside target. Closes below the 20-day moving average crossing at 83.72 would confirm that a short-term top has been posted. First resistance is weekly resistance crossing at 84.96. Second resistance is weekly resistance crossing at 87.00. First support is Tuesday's low crossing at 84.00. Second support is the 20-day moving average crossing at 83.72.

The December Euro closed lower on Friday renewing the decline off May's high. 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this summer's decline, weekly support crossing at 127.56 is the next downside target. Closes above the 20-day moving average crossing at 130.32 are needed to confirm that a low has been posted. First resistance is the 20-day moving average crossing at 130.32. Second resistance is the reaction high crossing at 132.29. First support is today's low crossing at 128.38. Second support is weekly support crossing at 127.56.

The December British Pound posted a downside reversal on Friday as it consolidates some of the rally off last Wednesday's low. 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 bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average crossing at 1.6355 are needed to confirm that a short-term low has been posted. If December resumes the decline off July's high, the 50% retracement level of the 2013-2014-rally crossing at 1.6007 is the next downside target. First resistance is today's high crossing at 1.6515. Second resistance is the reaction high crossing at 1.6629. First support is last Wednesday'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 closed lower 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 diverging but are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off July's high, the 87% retracement level of the 2013-2014-rally crossing at 1.0518 is the next downside target. Closes above the 20-day moving average crossing at 1.0792 would confirm that a low has been posted. First resistance is Tuesday's high crossing at 1.0751. Second resistance is the 20-day moving average crossing at 1.0792. First support is the 75% retracement level of the 2013-2014-rally crossing at 1.0653. Second support is the 87% retracement level of the 2013-2014-rally crossing at 1.0518.

The December Canadian Dollar closed slightly higher 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 bullish signaling that sideways to higher prices are possible near-term. If December extends this week's rally, August's high crossing at 92.26. If December renews the decline off July's high, the 75% retracement level of the March-July-rally crossing at 89.67 is the next downside target. First resistance is today's high crossing at 91.67. Second resistance is August's high crossing at 92.26. First support is Monday's low crossing at 89.90. Second support is the 75% retracement level of the March-July-rally crossing at 89.67.

The December Japanese Yen closed lower on Friday as it extends this month's decline. Today's high-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 December extends the decline off June's high, weekly support crossing at .9013 is the next downside target. Closes above the 20-day moving average crossing at .9455 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at .9323. Second resistance is the 20-day moving average crossing at .9455. First support is today's low crossing at .9143. Second support is weekly support crossing at .9013.

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