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CURRENCIES

The June Dollar closed lower on Monday and posted its lowest close since November. The mid-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this month's decline, the 62% retracement level of the 2016-2017-rally crossing at 97.41 is the next downside target. Closes above the 20-day moving average crossing at 100.76 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 100.76. Second resistance is March's high crossing at 102.19. First support is today's low crossing at 98.67. Second support the 62% retracement level of the 2016-2017-rally crossing at 97.41.

The June Euro closed higher on Monday as it extends this month's rally. The mid-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. 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 50% retracement level of the May-January-decline crossing at 110.91 is the next upside target. Closes below the 20-day moving average crossing at 107.23 would confirm that a short-term top has been posted. First resistance is February's high crossing at 108.90. Second resistance is the 50% retracement level of the May-January-decline crossing at 110.91. First support is the 10-day moving average crossing at 80.67. Second support is the 20-day moving average crossing at 107.23.

The June British Pound closed higher on Monday as it extends this month's rally. The mid-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. 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 high, February's high crossing at 1.2742 is the next upside target. Closes below the 20-day moving average crossing at 1.2356 would confirm that a short-term top has been posted. First resistance is today's high crossing at 1.2643. Second resistance is February's high crossing at 1.2742. First support is the 20-day moving average crossing at 1.2356. Second support is March's low crossing at 1.2138.

The June Swiss Franc closed higher on Monday as it extends this month's rally. The mid-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. 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, November's high crossing at 1.0448 is the next upside target. Closes below the 20-day moving average crossing at 1.0028 would confirm that a short-term top has been posted. First resistance is today's high crossing at 1.0242. Second resistance is November's high crossing at 1.0448. First support is the 20-day moving average crossing at 1.0028. Second support is March's low crossing at 0.9892.

The June Canadian Dollar closed slightly higher on Friday while extending the trading range of the past seven-days. The mid-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If June resumes this winter's decline, December's low crossing at 73.71 is the next downside target. If June renews the rally off March's low, the 50-day moving average crossing at 75.70. First resistance is last Wednesday's high crossing at 75.48. Second resistance is the 50-day moving average crossing at 75.70. First support is the 87% retracement level of the December-January-rally crossing at 74.16. Second support is December's low crossing at 73.71.

The June Japanese Yen closed higher on Monday as it extends this month's rally. The mid-range close sets the stage for a steady opening when the Tuesday's night session begins trading. 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 38% retracement of the August-January-decline crossing at 0.9127 is the next upside target. Closes below the 20-day moving average crossing at 0.8875 would confirm that a short-term top has been posted. First resistance is the 38% retracement of the August-January-decline crossing at 0.9127. Second resistance is the 50% retracement of the August-January-decline crossing at 0.9323. First support is the 20-day moving average crossing at 0.8875. Second support is March's low crossing at 0.8695.

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