MARKET COMMENTARY ON 03RD APRIL 2009
GBP/USD closed higher due to short covering on Thursday as it consolidates some of yesterday's decline. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted. Closes above the 10-day moving average crossing would temper the near-term bearish outlook.
EUR/USD closed higher due to short covering on Thursday as it consolidates yesterday's decline. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted. Closes above the 10-day moving average crossing would temper the near-term bearish outlook.
USD/CHF closed higher due to short covering on Thursday as it consolidates some of Monday's decline. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted. Closes above the 10-day moving average crossing would temper the near-term bearish outlook.
USD/JPY closed lower on Thursday but remains above the 20-day moving average crossing. The mid-range close sets the stage for a steady opening on Friday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted. Closes above the 10-day moving average crossing would temper the near-term bearish outlook in the market.
GBP/USD closed higher due to short covering on Thursday as it consolidates some of yesterday's decline. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted. Closes above the 10-day moving average crossing would temper the near-term bearish outlook.
EUR/USD closed higher due to short covering on Thursday as it consolidates yesterday's decline. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted. Closes above the 10-day moving average crossing would temper the near-term bearish outlook.
USD/CHF closed higher due to short covering on Thursday as it consolidates some of Monday's decline. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted. Closes above the 10-day moving average crossing would temper the near-term bearish outlook.
USD/JPY closed lower on Thursday but remains above the 20-day moving average crossing. The mid-range close sets the stage for a steady opening on Friday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted. Closes above the 10-day moving average crossing would temper the near-term bearish outlook in the market.
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