EUR/USD closed higher on Thurssday due to short covering. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI remain neutral signalling that sideways to higher prices are possible near-term. If it extends last week’s decline, this month’s low crossing is the next downside target. Closes above the 10-day moving average crossing are needed to confirm that a low has been posted.
USD/JPY closed lower on Thursday as it continued the breakout below last week’s high range. The mid-range close sets the stage for a steady to weaker opening on Friday. Stochastics and the RSI remain bullish hinting that sideways to higher prices are possible near-term. If it extends September’s rally, the reaction 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.
GBP/USD closed higher on Thursday due to short covering. The high-range close sets the stage for a steady to higher opening on Frisday. Stochastics and the RSI remain neutral signalling that sideways to higher prices are possible near-term. If it extends last week’s decline, this month’s low crossing is the next downside target. Closes above the 10-day moving average crossing are needed to confirm that a low has been posted.
USD/CHF closed lower on Thursday as it continued the breakout below last week’s high range. The mid-range close sets the stage for a steady to weaker opening on Friday. Stochastics and the RSI remain bullish hinting that sideways to higher prices are possible near-term. If it extends September’s rally, the reaction 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.
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