Thursday 24th April 2014
THE EURO closed slightly higher on Wednesday and the lowrange close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends this month’s rally, the 50% retracement level of the FebruaryApril’s decline crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted.
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Monday 28th April 2014
GOLD posted an inside day with a higher close on Friday and the highrange close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning bearish signalling that sideways to lower prices are possible nearterm. If it extends the decline off February’s high, the 75% retracement level of the DecemberFebruary rally crossing is the next downside target. Closes above Monday’s high crossing would confirm that a shortterm low has been posted.
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Monday 28th April 2014
GOLD posted an inside day with a higher close on Friday and the highrange close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning bearish signalling that sideways to lower prices are possible nearterm. If it extends the decline off February’s high, the 75% retracement level of the DecemberFebruary rally crossing is the next downside target. Closes above Monday’s high crossing would confirm that a shortterm low has been posted.
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Tuesday 29th April 2014
US 500 Index CFD closed higher on Monday. The midrange close sets the stage for a steady to higher opening when Tuesday’s night session begins trading. Stochastics and the RSI have turned bearish hinting that a shortterm top might be in or is near. Closes below the 20day moving average crossing are needed to confirm that a shortterm top has been posted. If it renews this year’s rally into uncharted territory, upside targets will be hard to project.
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Wednesday 30th April 2014
GOLD closed lower on Tuesday and the highrange close sets the stage for a steady to higher opening when Wednesday’s night session begins trading. Stochastics and the RSI are turning 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 renews the rally off June’s low, March’s high crossing is the next upside target.
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Monday 5th May 2014
STERLING closed lower on Friday and the highrange close sets the stage for a steady to higher opening when Friday’s night session begins trading. Stochastics and the RSI have turned bearish signalling that sideways to lower prices are possible nearterm. If it extends today’s decline, the reaction low crossing is the next downside target. If it renews the rally off March’s low, the 62% retracement level of this year’s decline crossing is the next upside target.
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US OIL closed sharply lower on Monday and the lowrange close sets the stage for a steady opening when Tuesday’s night session begins. Stochastics and the RSI are turning bearish signalling that sideways to lower prices are possible nearterm. If it extends this month’s decline, November’s low crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a shortterm low has been posted.
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Wednesday 7th May 2014
GOLD closed lower on Tuesday and 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 bearish signalling that sideways to lower prices are possible nearterm. If it extends this month’s decline, April’s low crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a shortterm low has been posted.
See more analysis at Market Commentary | HY Markets
Thursday 8th May 2014
THE EURO closed lower on Wednesday and the 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 May’s high, April’s low crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a low has been posted.
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Friday 9th May 2014
NATURAL GAS closed lower on Thursday. The lowrange close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI have turned bullish signalling that a low might be in or is near. Closes above the 20 day moving average crossing are needed to confirm that a low has been posted. If it renews the decline off May’s high, the 50% retracement level of this year’s rally crossing is the next downside target.
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Monday 12th May 2014
THE EURO closed sharply lower on Friday and below the 20day moving average crossing confirming that a shortterm top has been posted. The lowrange close sets the stage for a steady to lower opening when Monday’s night session begins trading. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible nearterm. If it extends this week’s decline, April’s low crossing is the next downside target. Closes above the 10day moving average crossing would temper the nearterm bearish outlook
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Tuesday 13th May 2014
THE YEN closed higher on Monday. Monday’s highrange close sets the stage for a steady to higher opening when Tuesday’s night session begins trading. Stochastics and the RSI are turning neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends Monday’s rally, the reaction high crossing is the next upside target. If it extends the decline off the reaction high crossing, February’s low crossing is the next downside target.
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Thursday 15th May 2014
THE EURO closed higher due to short covering on Wednesday as it consolidates some of the decline off last Thursday’s high. The midrange close sets the stage for a steady opening when Thursday’s night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends the aforementioned decline, April’s low crossing is the next downside target. Closes above the 20day moving average crossing would temper the nearterm bearish outlook.
See more analysis at Market Commentary | HY Markets
Friday 16th May 2014
THE EURO closed lower on Thursday. 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 bullish hinting that a low might be in or is near. Closes above the 20day moving average crossing would temper the nearterm bearish outlook. If it extends the aforementioned decline, the 38% retracement level of the 20132014rally crossing is the next downside target.
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Monday 19th May 2014
The Yen closed higher on Friday. Friday’s highrange 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 signalling that sideways to higher prices are possible nearterm. If it extends this month’s decline, February’s low crossing is the next downside target.
See more analysis at Market Commentary | HY Markets
Tuesday 20th May 2014
US OIL closed higher on Monday and the highrange close sets the stage for a steady to higher opening when Tuesday’s night session begins. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends this week’s rally, April’s high crossing is the next upside target. Closes below the 10day moving average crossing would temper the nearterm friendly outlook.
See more analysis at Market Commentary | HY Markets
Wednesday 21st May 2014
THE EURO closed lower on Tuesday. The midrange close sets the stage for a steady opening when Wednesday’s night session begins trading. Stochastics and the RSI are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20day moving average crossing would temper the nearterm bearish outlook. If it extends the aforementioned decline, the 38% retracement level of the 20132014rally crossing is the next downside target.
See more analysis at Market Commentary | HY Markets
Tuesday 27th May 2014
THE EURO 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 turning neutral to bullish hinting that a low might be in or is near. Closes above the 20day moving average crossing would temper the nearterm bearish outlook. If it extends the aforementioned decline, the 38% retracement level of the 20132014rally crossing is the next downside target.
See more analysis at Market Commentary | HY Markets
The British Pound edged downward anew against the US Dollar, with prices back to re-test rising trend support established from early February (now at the 1.6808 figure). A daily close below this barrier initially targets the 38.2% Fibonacci retracement at 1.6711. Resistance comes in at 1.6920, the May 21 high, with a break above that opening the door for a challenge of the May 6 top at 1.6996.
Wednesday 28th May 2014
THE YEN closed higher on Tuesday. Tuesday’s midrange close sets the stage for a steady opening when Wednesday’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 this month’s decline, February’s low crossing is the next downside target.
See more analysis at Market Commentary | HY Markets