FOREX TRADING

EUR/USD closed lower on Friday and has renewed the decline off this month’s high. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are oversold, diverging but are turning 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 crossin would temper the bearish outlook.

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EUR/USD closed lower on Thursday and the mid-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are oversold and are turning bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing would temper the bearish outlook. If it extends last week’s decline, the reaction low crossing is the next downside target.

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EUR/USD closed lower on Thursday as it extends this week’s breakout below the 20-day moving average crossing. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible near-term. If it extends this week’s decline, the reaction low crossing is the next downside target. Closes above the 10-day moving average crossing would temper the bearish outlook.

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EUR/USD closed sharply lower on Wednesday and below the 20-day moving average crossing confirming that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible near-term. If it extends this week’s decline, the reaction low crossing is the next downside target. Closes above the 10-day moving average crossing would temper the bearish outlook.

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EUR/USD closed lower on Tuesday as it as it consolidates some of last week’s rally but remains above the 38% retracement level of the 2009-2010-decline crossing. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are overbought and are turning bearish hinting that a short-term top might be near. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted. If it extends the rally off June’s low, the 50% retracement level of the 2009-2010-decline crossing is the next upside target.

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EUR/USD closed lower due to profit taking on Monday as it as it consolidates some of last week’s rally but remains above the 38% retracement level of the 2009-2010-decline crossing. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are overbought and are turning neutral to bearish hinting that a short-term top might be near. If it extends the rally off June’s low, the 50% retracement level of the 2009-2010-decline crossing is the next upside target.

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EUR/USD closed higher on Friday as it extends last week’s breakout above the 38% retracement level of the 2009-2010-decline crossing. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are overbought and are turning neutral to bearish hinting that a short-term top might be near. If it extends the rally off June’s low, the 50% retracement level of the 2009-2010-decline crossing is the next upside target. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted.

(more…)

EUR/USD closed higher on Thursday as it consolidates above the 38% retracement level of the 2009-2010-decline crossing. The mid-range close sets the stage for a steady opening on Friday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that additional short-term gains are possible. If it extends the rally off June’s low, the 50% retracement level of the 2009-2010-decline crossing is the next upside target. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted.

(more…)

EUR/USD closed lower due to profit taking on Wednesday as it consolidates some of the rally off June’s low. The mid-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that additional short-term gains are possible. If it extends the rally off June’s low, the 50% retracement level of the 2009-2010-decline crossing is the next upside target. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted.

(more…)

EUR/USD closed higher on Tuesday as it extends the rally off June’s low. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are overbought but remain bullish signalling that additional short-term gains are possible. If it extends the rally off June’s low, the 50% retracement level of the 2009-2010-decline crossing is the next upside target. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted.

(more…)

EUR/USD closed higher on Monday and above the 38% retracement level of the 2009-2010-decline crossing. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are overbought but remain bullish signalling that additional short-term gains are possible. If it extends the rally off June’s low, the 50% retracement level of the 2009-2010-decline crossing is the next upside target. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted.

(more…)

EUR/USD closed higher on Thursday and is challenging the 38% retracement level of the 2009-2010-decline crossing. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are diverging but are bullish signalling that additional short-term gains are possible. If it extends the rally off June’s low, the 50% retracement level of the 2009-2010-decline crossing is the next upside target. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted.

(more…)

EUR/USD closed lower due to profit taking on Wednesday but remains above the 10-day moving average crossing. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are diverging but are bullish signalling that additional short-term gains are possible. If it extends the rally off June’s low, the 38% retracement level of the 2009-2010-decline crossing is the next upside target. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted.

(more…)

EUR/USD closed higher on Tuesday as it consolidates above the 10-day moving average crossing. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are diverging but are turning bullish signalling that additional short-term gains are possible. If it extends the rally off June’s low, the 38% retracement level of the 2009-2010-decline crossing is the next upside target. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted.

(more…)

EUR/USD closed higher on Monday as it consolidates above the 10-day moving average crossing. The high-range close sets the stage for a steady to higher opening on Tuesday. However, stochastics and the RSI have turned bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted. If it renews the rally off June’s low, the 38% retracement level of the 2009-2010-decline crossing s the next upside target.

(more…)