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CURRENCIES

The September Dollar was lower overnight as it posted a new low for the year. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends this year's decline, last September's low crossing at 94.97 is the next downside target. Closes above the reaction high crossing at 97.48 would confirm an upside breakout of a four-week old trading range. First resistance is the reaction high crossing at 97.48. Second resistance is the 50-day moving average crossing at 97.69. First support is the 87% retracement of the 2016-2017-rally crossing at 96.07. Second support is last September's low crossing at 94.97.

The September Euro was higher overnight as it posted a new high for the year. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If September resumes the rally off April's low, last November's high crossing at 114.50 is the next upside target. Closes below the reaction low crossing at 111.77 are needed to confirm a downside breakout of a four-week old trading range. First resistance is the overnight high crossing at 114.38. Second resistance is last November's high crossing at 114.50. First support is the reaction low crossing at 111.77. Second support is the 50-day moving average crossing at 111.49.

The September British Pound was slightly higher overnight as it extends the rally off last Wednesday's low. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 1.2900 would confirm that a low has been posted. If September resumes the decline off May's high, April's low crossing at 1.2420 is the next downside target. First resistance is the reaction high crossing at 1.3018. Second resistance is May's high crossing at 1.3092. First support is last Wednesday's low crossing at 1.2625. Second support is April's low crossing at 1.2420.

The September Swiss Franc was higher overnight as it extends this year's rally. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends this year's rally, last November's high crossing at 1.0507 is the next upside target. Closes below the reaction low crossing at 1.0296 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 1.0489. Second resistance is last November's high crossing at 1.0507. First support is the reaction low crossing at 1.0296. Second support is the 50-day moving average crossing at 1.0271.

The September Canadian Dollar was higher overnight as it extends the rally off May's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off May's low, the reaction high crossing at 77.02 is the next upside target. Closes below the 20-day moving average crossing at 75.16 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 76.54. Second resistance is the reaction high crossing at 77.02. First support is the 20-day moving average crossing at 75.16. Second support is the 50-day moving average crossing at 74.31.

The September Japanese Yen was slightly higher overnight as it consolidates some of this month's decline. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off June's high the May 17th gap crossing at 0.8901 is the next downside target. Closes above the 20-day moving average crossing at 0.9061 would confirm that a short-term low might be in or is near. First resistance is June's high crossing at 0.9228. Second resistance is April's high crossing at 0.9302. First support is the May 17th gap crossing at 0.8901. Second support is May's low crossing at 0.8792.

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