GBP/USD closed lower on Monday due to profit taking as it extends last week's trading range. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are turning neutral hinting that a short-term low might be in or is near. Closes above the 10-day moving average crossing at 1.4720 are needed to confirm that a short-term low has been posted. If June extends the decline off April's high, the reaction low crossing at 1.4130 is the next downside target. First resistance is last Friday's high crossing at 1.4750. Second resistance is April's high crossing at 1.5045. First support is last week's low crossing at 1.4410. Second support is the reaction low crossing at 1.4130.
EUR/USD closed lower on Monday as it consolidated some of last week's rally. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term. If June extends last week's rally, the reaction high crossing at 1.3385 is the next upside target. Closes below last week's low would open the door for a possible test of March's low crossing at 1.2660.
USD/CHF closed sharply lower on Monday due to profit taking as it consolidated some of last week's rally. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term. If June extends last week's rally, the reaction high crossing is the next upside target.
USD/CAD posted an inside day with a lower close on Monday as it consolidates some of last week's rally but remains above the 10-day moving average. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near-term. If June extends last week's rally, April's high crossing is the next upside target. Closes below the 20-day moving average crossing at would temper the friendly outlook.
USD/JPY closed higher on Monday as it extends this month's decline. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends this month's rally, the reaction high crossing at 99.70 is the next upside target. Closes below the 20-day moving average crossing 95.20 would signal that a short-term top has been posted.
No comments:
Post a Comment