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CURRENCIES

The March Dollar closed lower on Wednesday. The mid-range close sets the stage for a steady to lower opening when Thursday'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 March extends the aforementioned rally November's high crossing at 98.05 is the next upside target. Closes below the 20-day moving average crossing at 96.92 would temper the near-term friendly outlook. First resistance is the December 23rd high crossing at 97.41. Second resistance is November's high crossing at 98.05. First support is the 20-day moving average crossing at 96.92. Second support is December's low crossing at 96.02.

The March Euro closed slightly higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are oversold and remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off December's high, the December 6th low crossing at 111.12 is the next downside target. Closes above the 20-day moving average crossing at 111.82 would temper the near-term bearish outlook. First resistance is December's high crossing at 112.93. Second resistance is August's high crossing at 114.20. First support is the December 6th low crossing at 111.12. Second support is November's low crossing at 110.61.

The March British Pound closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews the rally off last-Tuesday's low, December's high crossing at 1.3548 is the next upside target. If March extends the decline off December's high, December's low crossing at 1.2940 is the next downside target. First resistance is December's high crossing at 1.3548. Second resistance is the 62% retracement level of the April-September decline crossing at 1.3748. First support is the November 22nd low crossing at 1.2870. Second support is November's low crossing at 1.2830.

The March Swiss Franc closed slightly higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 1.0344 would confirm that a short-term top has been posted. If March extends the rally off November's low, the 87% retracement level of the March-September-rally crossing at 1.0461 is the next upside target. First resistance is last-Thursday's high crossing at 1.0444. Second resistance is the 87% retracement level of the March-September-rally crossing at 1.0461. First support is the 20-day moving average crossing at 1.0344. Second support is the 50-day moving average crossing at 1.0252.

The March Canadian Dollar closed sharply lower on Wednesday as it renewed the decline off January's high. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 76.03 would open the door for additional weakness near-term. Closes above today's high crossing at 76.71 would confirm that a short-term low has been posted. First resistance is December's high crossing at 77.23. Second resistance is the October 2018 high crossing at 78.84. First support is the 50-day moving average crossing at 76.03. Second support is the December 13th low crossing at 75.76.

The March Japanese Yen closed slightly lower on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday'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 March extends this month's decline, weekly support crossing at 0.0906 is the next downside target. Closes above the 50-day moving average crossing at 0.0922 would temper the near-term bearish outlook. First resistance is the 20-day moving average crossing at 0.0918. Second resistance is the 50-day moving average crossing at 0.0922. First support is last-Friday's low crossing 0.0909. Second support is weekly support crossing at 0.0906.