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CURRENCIES

The June Dollar closed higher on Wednesday as it extends the rally off February's low. The high-range close sets the stage for a steady to higher opening when Thursday'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, the 75% retracement level of the 2017-2018-decline crossing at 94.46. Closes below the 20-day moving average crossing at 92.71 would confirm that a short-term top has been posted. First resistance is the 75% retracement level of the 2017-2018-decline crossing at 94.46. Second resistance is the 87% retracement level of the 2017-2018-decline crossing at 95.52. First support is the 10-day moving average crossing at 93.18. Second support is the 20-day moving average crossing at 92.71.

The June Euro closed lower on Wednesday as it extended this year's decline and tested the 50% retracement level of the 2016-2018 rally crossing at 116.95. The low-range close sets the stage for a steady to lower prices are possible when Thursday'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 decline off April's high, the 62% retracement level of the 2016-2018 rally crossing at 114.66 is the next downside target. Closes above the 20-day moving average crossing at 119.37 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 119.37. Second resistance is the reaction high crossing at 120.25. First support is the 50% retracement level of the 2016-2018 rally crossing at 116.95. Second support is the 62% retracement level of the 2016-2018 rally crossing at 114.66.

The June British Pound closed lower on Wednesday as it renewed the decline off April's high. The low-range close sets the stage for a steady to lower opening when Thursday'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, last November's low crossing at 1.3148 is the next downside target. Closes above the 20-day moving average crossing at 1.3582 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.3582. Second resistance is the 50-day moving average crossing at 1.3913. First support is today's low crossing at 1.3319. Second support is last November's low crossing at 1.3148.

The June Swiss Franc closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off May's low, the reaction high crossing at 1.0169 is the next upside target. If June renews the decline off February's high, weekly support crossing at 0.9833 is the next downside target. First resistance is the reaction high crossing at 1.0169. Second resistance is the 50-day moving average crossing at 1.0312. First support is May's low crossing at 0.9972. Second support is weekly support crossing at 0.9833.

The June Canadian Dollar closed slightly lower on Wednesday as it extends the trading range of the past five-weeks. The high-range close sets the stage for a steady to higher opening when Thursday'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 May's low, April's high crossing at 79.92 is the next upside target. If June renews the decline off April's high, March's low crossing at 76.33 is the next downside target. First resistance is the reaction high crossing at 78.62. Second resistance is April's high crossing at 79.92. First support is May's low crossing at 76.99. Second support is March's low crossing at 76.33.

The June Japanese Yen closed higher on Wednesday. The mid-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 0.9127 would confirm that a short-term low has been posted. If June renews the decline off March's high, the 87% retracement level of the October-March-rally crossing at 0.8956 is the next downside target. First resistance is the 20-day moving average crossing at 0.9127. Second resistance is the reaction high crossing at 0.9229. First support is Monday's low crossing at 0.8992. Second support is the 87% retracement level of the October-March-rally crossing at 0.8956.

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