GBP/USD closed higher on Friday as it extended this week's rally. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI have turned bullish signaling that sideways to higher prices are possible near-term. If June extends this week's rally, February's high crossing at 1.4990 is the next upside target. Closes below the 20- day moving average crossing at 1.4310 are needed to confirm that a short-term top has been posted.
EUR/USD closed higher on Friday and above the 10-day moving average crossing at 1.3425 tempering the bearish outlook. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near-term. If June extends this week's rally, March's high crossing at 1.3700 is the next upside target. Closes below Monday's low crossing at 1.3150 would confirm that a short-term top has been posted.
USD/CHF closed higher on Friday and above the 10-day moving average crossing. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. If June extends this week's rally, March'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.
USD/CAD closed higher on Friday and above the 10-day moving average thereby 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends this week's rally, March's high crossing is the next upside target. Closes below Wednesday's low crossing would confirm that a short-term top has been posted.
USD/JPY closed higher on Friday as it extended this week's rally. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends this week's decline, the 75% retracement level of last fall's rally crossing 98.50 is the next downside target. Closes above the 20-day moving average crossing at 101.70 would temper the near-term bearish outlook.
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