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CURRENCIES

The March Dollar posted a key reversal up as it closed higher on Friday as it consolidates some of this week'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 neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this week's decline, weekly support crossing at 87.45 is the next downside target. Closes above the 10-day moving average crossing at 89.56 would confirm that a short-term low has been posted. First resistance is the 38% retracement level of the November-January-decline crossing at 90.71. Second resistance is the 50-day moving average crossing at 91.08. First support is today's low crossing at 88.15. Second support is weekly support crossing at 87.45.

The March Euro posted a key reversal down as it closed lower on Friday. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this week's rally, weekly resistance crossing at 126.74 is the next upside target. Closes below the 10-day moving average crossing at 123.79 would confirm that a short-term top has been posted. First resistance is today'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 121.66.

The March British Pound posted a key reversal down and closed lower on Friday. 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 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 1.4300 is the next upside target. If March renews the decline off January's high, the 50-day moving average crossing at 1.3752 is the next downside target. First resistance is today's high crossing at 1.4160. Second resistance is February's high crossing at 1.4300. First support is last Friday's low crossing at 1.3780. Second support is the 50-day moving average crossing at 1.3752.

The March Swiss Franc posted a downside reversal as it closed lower on Friday. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends 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. Closes below the 20-day moving average crossing at 1.0707 are needed to confirm that a short-term top has been posted. First resistance is today'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 the 20-day moving average crossing at 1.0707. Second support is February's low crossing at 1.0589.

The March Canadian Dollar closed lower on Friday. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 80.35 are needed to confirm that a short-term low has been posted. If March renews the decline off January's high, the 75% retracement level of the December-January-rally crossing at 78.56 is the next downside target. First resistance is the 20-day moving average crossing at 80.35. Second resistance is January's high crossing at 81.68. First support is the 62% retracement level of the December-January-rally crossing at 79.11. Second support is the 75% retracement level of the December-January-rally crossing at 78.56.

The March Japanese Yen closed lower on Friday but not before testing the 50% retracement level of 2016's trading range crossing at 0.9491. 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 but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends 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 0.9213 would 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 the 10-day moving average crossing at 0.9267. Second support is the 20-day moving average crossing at 0.9213.

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