Market Commentary and Analysis
Trader's Blog
QE or Not QE: The Consequences Are The Same
1 day ago
Gold Hits Second Target
2 days ago
What An Expiring Bubble Looks Like
3 days ago
Copper Futures Continue Bullish Momentum
4 days ago
2020 Market Outlook - Margin Of Safety Required
5 days ago
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.
CURRENCIES https://quotes.ino.com/exchanges/category.html?c=currencies
The March Dollar was lower overnight. 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 rally off December's low, November's high crossing at 98.05 is the next upside target. Closes below the 20-day moving average crossing at 96.93 would temper the near-term friendly outlook. First resistance is Monday's high crossing at 97.49. Second resistance is November's high crossing at 98.05. First support is the January 16th low crossing at 96.81. Second support is December's low crossing at 96.02.
The March Euro was lower overnight. The mid-range overnight trade sets the stage for a steady to lower opening when the day 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, November's low crossing at 110.61 is the next downside target. Closes above last-Thursday's high crossing at 112.13 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 111.13. Second support is November's low crossing at 110.61.
The March British Pound was lower overnight. The low-range overnight trade sets the stage for a steady to lower opening when the day session beings trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this week's rally, the December 31st high crossing at 1.3312 is the next upside target. Closes below December's low crossing at 1.2940 would open the door for additional weakness near-term and a possible test of the November 22nd low crossing at 1.2870. First resistance is the December 31st high crossing at 1.3312. Second resistance is December's high crossing at 1.3548. First support is December's low crossing at 1.2940. Second support is the November 22nd low crossing at 1.2870.
The March Swiss Franc was slightly lower overnight. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 1.0350 would confirm that a short-term top has been posted. If March resumes the rally off November's low, the 87% retracement level of the August-November-decline crossing at 1.0461 is the next upside target. First resistance is last-Wednesday's high crossing at 1.0444. Second resistance the 87% retracement level of the August-November-decline crossing at 1.0461. First support is the 20-day moving average crossing at 1.0350. Second is the 50-day moving average crossing at 1.0257.
The March Canadian Dollar was lower overnight as it extends this week's decline. Stochastics and the RSI are oversold but remain 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 the 20-day moving average crossing at 76.60 would confirm that a short-term low has been posted. First resistance is Wednesday's high crossing at 76.71. Second resistance is December's high crossing at 77.23. 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 was higher overnight as it extends this week's short covering rebound. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 0.0921 are needed to temper the near-term bearish outlook. If March extends this month's decline, monthly support crossing at 0.0906 is the next downside target. First resistance is the 20-day moving average crossing at 0.0918. Second resistance is the 50-day moving average crossing at 0.0921. First support is last-Friday's low crossing at 0.0909. Second support is monthly support crossing at 0.0906.
