MARKET COMMENTARY ON 24TH APRIL 2009
GBP/USD closed higher due to short covering on Thursday as it consolidated some of this month's decline. The high-range close sets the stage for a steady opening on Friday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing would temper the near-term bullish outlook.
EUR/USD closed higher due to short covering on Thursday as it consolidated some of this month's decline on evidence the worst of Europe’s economic slump may be over. The high-range close sets the stage for a steady opening on Friday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing would temper the near-term bullish outlook.
USD/CHF closed higher due to short covering on Thursday as it consolidated some of this month's decline. The high-range close sets the stage for a steady opening on Friday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing would temper the near-term bullish outlook.
GBP/USD closed higher due to short covering on Thursday as it consolidated some of this month's decline. The high-range close sets the stage for a steady opening on Friday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing would temper the near-term bullish outlook.
EUR/USD closed higher due to short covering on Thursday as it consolidated some of this month's decline on evidence the worst of Europe’s economic slump may be over. The high-range close sets the stage for a steady opening on Friday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing would temper the near-term bullish outlook.
USD/CHF closed higher due to short covering on Thursday as it consolidated some of this month's decline. The high-range close sets the stage for a steady opening on Friday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing would temper the near-term bullish outlook.
USD/CAD closed higher on Thursday and is trading above the 10-day moving average crossing. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are turning neutral to bullish hinting that sideways to higher prices are possible near-term. Closes above the 10-day moving average crossing would temper the near-term bearish outlook in the market.
USD/JPY closed higher due to short covering on Thursday as it consolidated some of this month's decline. The high-range close sets the stage for a steady opening on Friday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing would temper the near-term bullish outlook.
USD/JPY closed higher due to short covering on Thursday as it consolidated some of this month's decline. The high-range close sets the stage for a steady opening on Friday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing would temper the near-term bullish outlook.
