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CURRENCIES

The June Dollar was higher overnight as it extends the rally off April's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off April's low, the 38% retracement level of the June-2017/February-2018 decline crossing at 91.20 is the next upside target. Closes below the 50-day moving average crossing at 89.51 would confirm that a short-term top has been posted. First resistance is the 38% retracement level of the June-2017/February-2018-decline crossing at 91.20. Second resistance is the 50% retracement level of the June-2017/February-2018-decline crossing at 92.25. First support is the 50-day moving average crossing at 89.51. Second support is April's low crossing at 88.94.

The June Euro was lower overnight as it extends the decline off April's high and below the lower boundary of the trading of the past three-months crossing at 122.54. 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, is the 50% retracement level of the November-February-decline crossing at 121.97 is the next downside target. Closes above the 50-day moving average crossing at 124.05 would confirm that a short-term low has been posted. First resistance is April's high crossing at 124.68. Second resistance is March's high crossing at 125.53. First support is Tuesday's low crossing at 122.30. Second support is the 50% retracement level of the November-February-decline crossing at 121.97.

The June British Pound was lower overnight and poised to extend the decline off April's high. 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 reaction low crossing at 1.3945 is the next downside target. Closes above the 10-day moving average crossing at 1.4162 would confirm that a short-term low has been posted. First resistance is April's high crossing at 1.4413. Second high is the 50% retracement level of the 2014-2016-decline crossing at 1.4617. First support is the reaction low crossing at 1.3945. Second support is the reaction low crossing at 1.3843.

The June Swiss Franc were lower overnight as it extends the decline off February's high. 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, last-November low crossing at 1.0130 is the next downside target. Closes above the 20-day moving average crossing at 1.0426 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 1.0353. Second resistance is the 20-day moving average crossing at 1.0426. First support is the overnight low crossing at 1.0216. Second support is last-November low crossing at 1.0130.

The June Canadian Dollar was lower overnight as it extends the decline off April's high. 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 reaction low crossing at 77.35 is the next downside target. Closes above the 10-day moving average crossing at 78.87 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 78.87. Second resistance is April's high crossing at 79.92. First support is the reaction low crossing at 77.35. Second support is March's low crossing at 76.33.

The June Japanese Yen was lower overnight as it extends the decline off March's high. 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 March's high, the 62% retracement level of the November-March-rally crossing at 0.9148 is the next downside target. Closes above the 20-day moving average crossing at 0.9362 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 0.9314. Second resistance is the 20-day moving average crossing at 0.9362. First support is the overnight low crossing at 0.9182. Second support is the 62% retracement level of the November-March-rally crossing at 0.9148.

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