S&P 500
2800.71
-54.17 -1.95%
Dow Indu
25502.32
-460.19 -1.78%
Nasdaq
7642.67
-196.29 -2.63%
Crude Oil
58.96
-1.02 -1.80%
Gold
1313.385
0.000 0.00%
Euro
1.1314
0.0000 0.00%
US Dollar
96.545
+0.198 +0.21%
Weak

Market Commentary

Currencies | Energy | Food | Grains | Indexes | Interest | Livestock | Metals

INO.com’s Daily Market Analysis

It’s free, informative, and will help you prepare and plan for the next trading day, while getting a jump on changing market conditions.

Privacy Policy

CURRENCIES

The June Dollar closed higher on Friday as it consolidated some of the decline off March's high. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Today's close above the 20-day moving average crossing at 96.06 temper the near-term bearish outlook. If June resumes the decline off March's high, the late-January low crossing at 94.38 is the next downside target. First resistance is March's high crossing at 97.16. Second resistance is weekly resistance crossing at 97.83. First support is the late-January low crossing at 94.38. Second support is the January's low crossing at 94.15.

The June Euro closed lower on Friday and below the 10-day moving average crossing at 114.14 confirming that a short-term top has likely been posted. The low-range close sets the stage for a steady to lower opening when Monday'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 the rally off March's low, the last-January high crossing at 116.46 is the next upside target. First resistance is Wednesday's high crossing at 115.33. Second resistance is the late-January high crossing at 116.46. First support is the 87% retracement level of the 2016-2018 rally crossing at 112.62. Second support is the January 2017 low crossing at 110.16.

The June British Pound closed sharply higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday'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 1.3140 would confirm that a short-term top has been posted. If June resumes the rally off January's low, the 50% retracement level of the April-December-2018 decline crossing at 1.3603 is the next upside target. First resistance is last-Wednesday's high crossing at 1.3441. Second resistance is the 50% retracement level of the April-December-2018 decline crossing at 1.3603. First support is the 50-day moving average crossing at 1.3140. Second support is February's low crossing at 1.2854.

The June Swiss Franc closed slightly lower on Friday as it consolidates some of the rally off March's low. The mid-range close sets the stage for a steady to higher opening when Monday'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 September-January downtrend line crossing near 1.0251 is the next upside target. Closes below the 20-day moving average crossing at 1.0076 would confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 1.0190. Second resistance is the September-January downtrend line crossing near 1.0251. First support is March's low crossing at 0.9970. Second support is weekly support crossing at 0.9902.

The June Canadian Dollar closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday'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 renews the decline off February's high, December's low crossing at 74.47 is the next downside target. Closes above the 50-day moving average crossing at 75.56 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 75.56. Second resistance is the reaction high crossing at 76.46. First support is March's low crossing at 74.43. Second support is December's low crossing at 73.47.

The June Japanese Yen closed higher on Friday confirming Wednesday's key reversal up. Today's close above the 50-day moving average crossing at 0.0915 confirms that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening when Monday'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 resumes the decline off January's high, November's low crossing at 0.0893 is the next downside target. First resistance is today's high crossing at 0.0917. Second resistance is the reaction high crossing at 0.0922. First support is the 87% retracement level of the November-January-rally crossing at 0.0900. Second support is November's low crossing at 0.0893.

© Copyright INO.com, Inc. All Rights Reserved.