Tuesday 24th December 2013
GOLD posted an inside day with a lower close on Monday. The midrange close sets the stage for a steady opening when Tuesday’s night session begins trading. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible nearterm. If it extends the decline off August’s high, weekly support crossing is the next downside target. Closes above the reaction high crossing are needed to confirm that a low has been posted.
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Tuesday 24th December 2013
Tuesday 24th December 2013THE EURO closed higher due to short covering on Monday as it consolidated some of last week’s decline. The midrange close sets the stage for a steady opening when Tuesday’s night session begins trading. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible nearterm. Closes below the 20day moving average crossing are needed to confirm that a double top has been posted. If it renews the rally off November’s low, monthly resistance crossing is the next upside target.
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Friday 27th December 2013
THE YEN closed higher on Thursday. The lowrange close sets the stage for a steady to lower opening when Friday’s night session begins trading. Stochastics and the RSI are bullish signalling that additional strength is possible. If it extends the rally off October’s low, weekly resistance crossing is the next upside target. Closes below the 20day moving average crossing are needed to confirm that a shortterm high has been posted.
See more analysis at Market Commentary | HY Markets
Monday 30th December 2013
THE YEN closed higher on Friday as it extends this year’s rally. The highrange close sets the stage for a steady to higher opening when Monday’s night session begins trading. Stochastics and the RSI are bullish signalling that additional strength is possible. If it extends the rally off October’s low, weekly resistance crossing is the next upside target. Closes below the 20day moving average crossing are needed to confirm that a shortterm high has been posted.
See more analysis at Market Commentary | HY Markets
Tuesday 31st December 2013
GOLD closed lower on Monday signaling a possible end to the short covering bounce off December’s low. The lowrange 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 signalling that sideways to higher prices are possible nearterm. Closes above the 20day moving average crossing are needed to confirm that a low has been posted. If it renews the decline off August’s high, weekly support crossing is the next downside target.
See more analysis at Market Commentary | HY Markets
Monday 6th January 2014
THE EURO closed lower on Friday as it extends this week’s decline below the reaction low crossing. Today’s close below this support level confirms that a double top with October’s high has been posted while opening the door for additional weakness nearterm. The lowrange close sets the stage for a steady to lower opening when Monday’s night session begins trading. Stochastics and the RSI are turning bearish signalling that sideways to lower prices are possible nearterm. If it extends this week’s decline, the reaction low crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a low has been posted.
See more analysis at Market Commentary | HY Markets
Tuesday 7th January 2014
US OIL closed lower on Monday as it extends the decline off December’s high. Today’s lowrange close sets the stage for a steady to lower opening when Tuesday’s night session begins. Stochastics and the RSI remain bearish signalling that additional weakness is possible. If it extends last week’s decline, November’s low crossing is the next downside target. Closes above the 20day moving average crossing are needed to temper the nearterm bearish outlook.
See more analysis at Market Commentary | HY Markets
Wednesday 8th January 2014
THE YEN closed higher on Tuesday. The highrange close sets the stage for a steady to higher opening when Wednesday’s night session begins trading. Stochastics and the RSI have turned bearish hinting that a shortterm high might be in or is near. Closes below the 20day moving average crossing are needed to confirm that a shortterm high has been posted. If it renews the rally off October’s low, weekly resistance crossing is the next upside target.
See more analysis at Market Commentary | HY Markets
Thursday 9th January 2014
GOLD closed lower on Wednesday as it consolidated some of the rally off December’s low. The midrange close sets the stage for a steady to lower opening when Thursday’s night session begins trading. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends the aforementioned rally, December’s high crossing is the next upside target. If it renews the decline off August’s high, weekly support crossing is the next downside target.
See more analysis at Market Commentary | HY Markets
Friday 10th January 2014
US OIL closed lower on Thursday renewing the decline off last August’s high. Today’s highrange close sets the stage for a steady to higher opening when Friday’s night session begins. Stochastics and the RSI remain neutral to bearish signalling that additional weakness is possible. If it extends the aforementioned decline, the June 2013 low crossing is the next downside target. Closes above the 20day moving average crossing would confirm that a shortterm low has been posted.
See more analysis at Market Commentary | HY Markets
Monday 13th January 2014
THE EURO closed higher on Friday as it consolidates some of the decline off December’s high. Today’s highrange 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 nearterm. If it extends the decline off December’s high, the reaction low crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a low has been posted.
See more analysis at Market Commentary | HY Markets
Tuesday 14th January 2014
US OIL closed lower on Monday and is poised to extend the decline off last August’s high. Today’s lowrange close sets the stage for a steady to lower opening when Tuesday’s night session begins. Stochastics and the RSI remain neutral to bearish signalling that additional weakness is possible. If it extends the aforementioned decline, the June 2013 low crossing is the next downside target. Closes above the 20day moving average crossing would confirm that a shortterm low has been posted.
See more analysis at Market Commentary | HY Markets
Wednesday 15th January 2014
THE EURO closed higher on Tuesday. Today’s midrange close sets the stage for a steady opening when Wednesday’s night session begins trading. Stochastics and the RSI have turned bullish signalling that a low might be in or is near. Closes above the 20day moving average crossing are needed to confirm that a low has been posted. If it renews the decline off December’s high, the reaction low crossing is the next downside target.
See more analysis at Market Commentary | HY Markets
Thursday 16th January 2014
STERLING closed lower on Wednesday. The midrange close sets the stage for a steady to lower opening when Thursday’s night session begins trading. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible nearterm. Closes below the reaction low crossing are needed to confirm that a shortterm top has been posted. If it renews the rally off November’s low, monthly resistance crossing is the next upside target.
See more analysis at Market Commentary | HY Markets
The cable looks annoying to me.
It is trading in a range.
I think upcoming retail sales can be a catalyst for the pair.
The 1.6330/20 support looks good to me now.
Any break lower may call for a test of 1.6260, and any break above 1.6400 may call for a test of 1.6480.
Let’s see whether the pair manages to move to either side or not.
I will be keeping an eye on it for sure.
Cheers!
Friday 17th January 2014
GOLD closed higher on Thursday and the midrange close sets the stage for a steady opening when Friday’s night session begins trading. Stochastics and the RSI are turning neutral to bearish hinting that a shortterm top might be in or is near. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted. If it extends the rally off December’s low, December’s high crossing is the next upside target. If it renews the decline off August’s high, weekly support crossing is the next downside target.
See more analysis at Market Commentary | HY Markets
Monday 20th January 2014
THE SWISS FRANC closed higher on Friday. The highrange close sets the stage for a steady to higher opening when Monday’s night session begins trading. Stochastics and the RSI have turned neutral to bullish again signalling that additional strength is possible nearterm. If it renews the rally off December’s low, the 87% retracement level of the NovemberDecember decline crossing is the next upside target. Closes below the 20day moving average crossing are needed to confirm that a shortterm high has been posted.
See more analysis at Market Commentary | HY Markets
Tuesday 21st January 2014
STERLING closed higher on Monday. The highrange close sets the stage for a steady to higher opening when Tuesday’s night session begins trading. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible nearterm. Closes below the reaction low crossing are needed to confirm that a shortterm top has been posted and signal that a shortterm trend change has taken place. If it renews the rally off November’s low, monthly resistance crossing is the next upside target.
See more analysis at Market Commentary | HY Markets
Wednesday 22nd January 2014
GOLD posted a key reversal down due to profit taking on Tuesday as it consolidated some of the rally off December’s low. The lowrange close sets the stage for a steady to lower opening when Wednesday’s night session begins trading. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. If itl extends the rally off December’s low, December’s high crossing is the next upside target.
See more analysis at Market Commentary | HY Markets
Thursday 23rd January 2014
THE EURO closed lower on Wednesday. Today’s lowrange close sets the stage for a steady to lower opening when Thursday’s night session begins trading. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends the decline off December’s high, the reaction low crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a low has been posted.
See more analysis at Market Commentary | HY Markets