FOREX TRADING

EUR/USD closed higher due to short covering on Monday. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bearish signalling that sideways to lower prices are possible near-term. If it extends last week’s decline, March’s high crossing is the next downside target. Closes above the 20-day moving average crossing are needed to confirm a short-term low has been posted.

USD/JPY closed higher due to short covering on Monday. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral signalling that sideways to lower prices are possible near-term. If it extends last week’s decline, March’s high crossing is the next downside target. Closes above the 20-day moving average crossing are needed to confirm a short-term low has been posted.

GBP/USD closed higher due to short covering on Monday. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral signalling that sideways to higher prices are possible near-term. If it extends last week’s decline, March’s high crossing is the next downside target. Closes above the 20-day moving average crossing are needed to confirm a short-term low has been posted.

USD/CHF closed higher due to short covering on Monday. The mid-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bearish signalling that sideways to lower prices are possible near-term. If it extends last week’s decline, March’s high crossing is the next downside target. Closes above the 20-day moving average crossing are needed to confirm a short-term low has been posted.

HY Markets
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