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CURRENCIES

The September Dollar closed sharply higher on Friday in a flight to quality following the U.K.'s vote to leave the European Union. Profit taking ahead of the close tempered early-session gains. However, 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends today's rally, the 62% retracement level of the February-May-decline crossing at 97.53 is the next upside target. Closes below the 10-day moving average crossing at 94.38 would confirm that a short-term top has been posted. First resistance is today's high crossing at 96.70. Second resistance is the 62% retracement level of the February-May-decline crossing at 97.53. First support is Thursday's low crossing at 93.02. Second support is May's low crossing at 92.00.

The September Euro closed sharply lower on Friday. However, a late-session rebound tempered early losses and the mid-range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is still possible near-term. Closes above the reaction high crossing at 114.57 are needed to confirm that a short-term low has been posted. If September renews the decline off June's high, March's low crossing at 108.980 is the next downside target. First resistance is the reaction high crossing at 114.53. Second resistance is May's high crossing at 116.65. First support is the 75% retracement level of the December-May-rally crossing at 109.21. Second support is the 87% retracement level of the December-May-rally crossing at 108.01.

The September British Pound posted a huge key reversal down on Friday following the U.K.'s vote to leave the European Union. The pound suffered its largest ever one day decline and was pushed to its lowest level since 1985 against the dollar. The low-range close sets the stage for a steady opening when Friday'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 September extends today's decline, long-term support crossing at 1.2550 is the next downside target. Closes above the 20-day moving average crossing at 1.4424 would confirm that a short-term top has been posted. First resistance is today's high crossing at 1.5009. Second resistance is last December's high crossing at 1.5239. First support is today's low crossing at 1.3246. Second support is long-term support crossing at 1.2550.

The September Swiss Franc 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. Multiple closes below the 20-day moving average crossing at 1.0369 would confirm that a short-term top has been posted. If September renews this month's rally, the reaction high crossing at 1.0600 is the next upside target. First resistance is the reaction high crossing at 1.0600. Second resistance is May's high crossing at 1.0650. First support is the reaction low crossing at 1.0131. Second support is May's low crossing at 1.0103.

The September Canadian Dollar 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. Closes below the reaction low crossing at 76.43 would confirm that a short-term top has been posted. If September renews the rally off May's low, May's high crossing at 80.18 is the next upside target. First resistance is June's high crossing at 79.02. Second resistance is May's high crossing at 0.8018. First support is the reaction low crossing at 76.43. Second support is May's low crossing at 75.87.

The September Japanese Yen closed sharply higher on Friday as it renewed this year's rally. Profit taking tempered early-session gains and the mid-range close sets the stage for a steady to higher 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. Closes below the 20-day moving average crossing at .9429 are needed to confirm that a short-term top has been posted. If September extends this year's rally, the 50% retracement level of the 2011-2015-decline crossing at 1.06217 is the next upside target. First resistance is today's high crossing at 1.01310. Second resistance is the 50% retracement level of the 2011-2015-decline crossing at 1.06217. First support is the 20-day moving average crossing at .9429. Second support is the reaction low crossing at .9298.

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