FOREX TRADING

EUR/USD posted an inside day with a lower close on Thursday as it consolidates some of this month’s rally. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that additional gains are possible near-term. If it extends the rally off August’s low, April’s high crossing is the next upside target. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted.

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EUR/USD closed higher on Wednesday as it extends this month’s rally. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are overbought but are neutral to bullish signalling that additional gains are possible near-term. If it extends the rally off August’s low, April’s high crossing is the next upside target. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted.

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EUR/USD closed lower on Monday and the mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off August’s low, August’s high crossing is the next upside target. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted. Closes below August’s low crossing would renew the decline off last month’s high.

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EUR/USD closed lower on Friday as it consolidates some of last week’s rally. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off August’s low, August’s high crossing is the next upside target. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted. Closes below August’s low crossing would renew the decline off last month’s high.

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EUR/USD closed higher on Thursday as it extended some of Tuesday’s rally. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off August’s low, August’s high crossing is the next upside target. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted.

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EUR/USD closed lower on Monday and the low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are bullish signalling that a short-term low is in or is near. If it extends last week’s rally, the reaction high crossing is the next upside target. Closes below the reaction low crossing would renew the decline off August’s high.

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EUR/USD closed higher on Friday and above the 20-day moving average crossing confirming that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are bullish signalling that a short-term low is in or is near. If it extends last week’s rally, the reaction high crossing is the next upside target. Closes below the reaction low crossing would renew the decline off August’s high.

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EUR/USD closed higher on Thursday as it consolidates some of the decline off this month’s high. The mid-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are bullish signalling that a short-term low is in or is near. Closes above the 20-day moving average crossing would temper the bearish outlook. If it renews last month’s decline, the reaction low crossing is the next downside target.

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EUR/USD closed higher due to short covering on Wednesday as it consolidates some of the decline off this month’s high. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are turning bullish signalling that a short-term low is in or is near. Closes above the 20-day moving average crossing would temper the bearish outlook. If September renews last month’s decline, the reaction low crossing is the next downside target.

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EUR/USD closed lower on Tuesday as it consolidates some of the rally off this month’s low. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are oversold but remain neutral to bullish signalling that additional strength is possible near-term. If it extends this month’s rally, the reaction high crossing is the next upside target. Closes below the 20-day moving average crossing would temper the bullish outlook.

(more…)

EUR/USD closed higher due to short covering on Thursday as it consolidates some of the decline off this month’s high. The mid-range close sets the stage for a steady opening on Friday. Stochastics and the RSI are oversold but remain neutral to bearish signalling that additional weakness is possible near-term. If it extends this month’s decline, the reaction low crossing is the next downside target. Closes above the 20-day moving average crossing would temper the bearish outlook.

(more…)

EUR/USD closed higher due to short covering on Thursday as it consolidates some of the decline off this month’s high. The mid-range close sets the stage for a steady opening on Friday. Stochastics and the RSI are oversold but remain neutral to bearish signalling that additional weakness is possible near-term. If it extends this month’s decline, the reaction low crossing is the next downside target. Closes above the 20-day moving average crossing would temper the bearish outlook.

(more…)

EUR/USD closed lower on Wednesday as it extends the decline off this month’s high. The mid-range close sets the stage for a steady opening on Thursday. Stochastics and the RSI are oversold but remain neutral to bearish signalling that additional weakness is possible near-term. If it extends this month’s decline, the reaction low crossing is the next downside target. Closes above the 20-day moving average crossing would temper the bearish outlook.

(more…)

EUR/USD closed lower on Tuesday as it extends the decline off this month’s high. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are oversold but remain neutral to bearish signalling that additional weakness is possible near-term. If it extends this month’s decline, the reaction low crossing is the next downside target. Closes above the 20-day moving average crossing would temper the bearish outlook.

(more…)

EUR/USD closed lower on Monday as it extends the decline off this month’s high. The mid-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are oversold but are bearish signalling that additional weakness is possible near-term. If it extends this month’s decline, the reaction low crossing is the next downside target. Closes above the 20-day moving average crossing would temper the bearish outlook.

(more…)