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CURRENCIES

The June Dollar closed higher on Friday while extending this year's trading range. 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. From a broader perspective, June needs to close above 90.49 or below 78.83 are needed to confirm a breakout of the aforementioned trading range and point the direction of the next trading range. First resistance is the 38% retracement level of the November-February-decline crossing at 90.35. Second resistance is the 50% retracement level of the November-February-decline crossing at 91.13. First support is March's low crossing at 88.53. Second support is February's low crossing at 87.83.

The June Euro 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. If June resumes the decline off March's high, the 50% retracement of the November-February-rally crossing at 121.97 is the next downside target. Closes above April's high crossing at 124.68 would confirm that a short-term low has been posted. First resistance is March's high crossing at 125.54. Second resistance is February's high crossing at 126.58. First support is the March 1st low crossing at 122.54. Second support is the 50% retracement level of the November-February-rally crossing at 121.97.

The June British Pound closed lower on Friday as it extends this week's decline. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this week's decline, April's low crossing at 1.4007 is the next downside target. Closes above the 10-day moving average crossing at 1.4226 would confirm that a short-term low has been posted. First resistance is Tuesday's high crossing at 1.4413. Second resistance is the 50% retracement level of the 2014-2016-decline crossing at 1.4617. First support is April's low crossing at 1.4007. Second support is March's low crossing at 1.3779.

The June Swiss Franc closed lower on Friday as it extends the decline off February'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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off February's high, the 87% retracement level of the November-February-rally crossing at 1.0241 is the next downside target. Closes above the 20-day moving average crossing at 1.0485 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.0485. Second resistance is the 50-day moving average crossing at 1.0625. First support is today's low crossing at 1.0292. Second support is the 87% retracement level of the November-February-rally crossing at 1.0241.

The June Canadian Dollar closed sharply lower on Friday and below the 20-day moving average crossing at 78.63 confirming that a short-term top has been posted. 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 have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends today's decline, the reaction low crossing at 78.10 is the next downside target. If June renews the rally off March's low, the reaction high crossing at 80.45 is the next upside target. First resistance is Tuesday's high crossing at 79.92. Second resistance is the reaction high crossing at 80.45. First support is the reaction low crossing at 78.10. Second support is the reaction low crossing at 77.35.

The June Japanese Yen closed lower on Friday. The mid-range close sets the stage for a steady to lower 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 June extends the aforementioned decline, the 50% retracement level of the October-March-rally crossing at 0.9237 is the next downside target. Closes above the 20-day moving average crossing at 0.9414 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 0.9414. Second resistance is the reaction high crossing at 0.9511. First support is the 38% retracement level of the October-March-rally crossing at 0.9327. Second support is the 50% retracement level of the October-March-rally crossing at 0.9238.

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