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CURRENCIES

The June Dollar closed higher due to short covering on Tuesday as it consolidates some of this year's decline. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that a short-term top might be in or is near. If June extends the decline off April's high, the 75% retracement level of the 2016-2017-rally crossing at 96.06 is the next downside target. Closes above the 20-day moving average crossing at 98.54 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 98.54. Second resistance is the 50-day moving average crossing at 99.45. First support is Monday's low crossing at 96.70. Second support the 75% retracement level of the 2016-2017-rally crossing at 96.06.

The June Euro closed lower due to profit taking on Tuesday as it consolidates some of the rally off March's high. The low-range close sets the stage for a steady to lower opening when Wednesday'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 the rally off April's low, the 75% retracement level of the May-January-decline crossing at 114.23 is the next upside target. Closes below the 20-day moving average crossing at 110.09 would confirm that a short-term top has been posted. First resistance is the 62% retracement level of the May-January-decline crossing at 112.48. Second resistance the 75% retracement level of the May-January-decline crossing at 114.23. First support is the 10-day moving average crossing at 110.76. Second support is the 20-day moving average crossing at 110.09.

The June British Pound closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March's low, the 25% retracement level of the 2014-2017-decline crossing at 1.3260 is the next upside target. Closes below May's low crossing at 1.2846 would confirm that a short-term top has been posted. First resistance is last Thursday's high crossing at 1.3059. Second resistance is the 25% retracement level of the 2014-2017-decline crossing at 1.3260. First support is May's low crossing at 1.2846. Second support is the 50-day moving average crossing at 1.2704.

The June Swiss Franc closed lower on Tuesday as it consolidates some of this month's rally. The low-range close sets the stage for a steady to lower opening when Wednesday'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, last October's high crossing at 1.0448 is the next upside target. Closes below the 50-day moving average crossing at 1.0075 would confirm that a short-term top has been posted. First resistance is Monday's high crossing at 1.0335. Second resistance is last October's high crossing at 1.0448. First support is the 50-day moving average crossing at 1.0075. Second support is May's low crossing at 0.9921.

The June Canadian Dollar closed lower due to profit taking on Tuesday as it consolidates some of this month's rally. The low-range close sets the stage for a steady to lower opening when Wednesday'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. Closes above the 50-day moving average crossing at 74.20 would open the door for additional gains near-term. Closes below the 20-day moving average crossing at 73.31 would confirm that a short-term top has been posted. First resistance is the 50-day moving average crossing at 74.20. Second resistance is the reaction high crossing at 74.63. First support is May's low crossing at 72.72. Second support is the 75% retracement level of the 2016-rally crossing at 71.76.

The June Japanese Yen closed lower on Tuesday and the low-range close sets the stage for a steady to lower opening when the Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 10-day moving average crossing at 0.8898 would temper the near-term friendly outlook. If June extends this month's rally, the April 24th gap crossing at 0.9158 is the next upside target. First resistance is April's high crossing at 0.9271. Second resistance is the 50% retracement of the August-January-decline crossing at 0.9323. First support is May's low crossing at 0.8755. Second support is March's low crossing at 0.8694.

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