Market Commentary and Analysis

Trader's Blog

Stocks Have Worst Week Since March

20 hours ago

Trade Triangles Signal Volatility Ahead

2 days ago

Mitigating Election And COVID-19 Volatility

3 days ago

Put The Blame On Me

4 days ago

Futures Market Looks To Heat Up

6 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.

Privacy Policy

CURRENCIES:

The December Dollar closed 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends this week's rally, September's high crossing at 94.80 is the next upside target. Closes below the 10-day moving average crossing at 93.23 would signal that a short-term top has been posted. First resistance is the 25% retracement level of the March-September-decline crossing at 94.72. Second resistance is the 38% retracement level of the March-September-decline crossing at 96.33. First support is last-Wednesday's low crossing at 92.46. Second support is September's low crossing at 91.75.

The December Euro 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 becoming oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, September's low crossing at 116.31 is the next downside target. Closes above the 50-day moving average crossing at crossing at 118.05 would signal that a short-term low has been posted. First resistance is the September 10th high crossing at 119.42. Second resistance is September's high crossing at 120.38. First support is today's low crossing at 116.51. Second support is September's low crossing at 116.30.

The December British Pound posted an inside day with a higher close on Friday as it consolidated some of this week's decline. 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. If December extends this week's decline, September's low crossing at 1.2679 is the next downside target. Closes above the 10-day moving average crossing at 1.3014 would signal that a short-term low has been posted. First resistance is last-Wednesday's high crossing at 1.3182. Second resistance is the August 19th high crossing at 1.3270. First support is the reaction low crossing at 1.2856. Second support is September's low crossing at 1.2679.

The December Swiss Franc closed lower on Friday as it extends this week's decline. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, September's low crossing at 1.0781 is the next downside target. Closes above last-Wednesday's high crossing at 1.1090 would signal that a short-term low has been posted. First resistance is last-Wednesday's high crossing at 1.1090. Second resistance is August's high crossing at 1.1138. First support is October's low crossing at 1.0869. Second support is September's low crossing at 1.0781.

The December Canadian Dollar closed slightly higher on Friday. 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 bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, September's low crossing at 74.53 is the next downside target. Closes above the 50-day moving average crossing at 75.47 would signal that a short-term low has been posted. First resistance is last-Wednesday's high crossing at 76.46. Second resistance is September's high crossing at 76.97. First support is Thursday's low crossing at 75.69. Second support is September's low crossing at 74.53.

The December Japanese Yen 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. Closes below Monday's low crossing at 0.0955 would confirm that a short-term top has been posted. If December extends this week's rally, resistance crossing at 0.0969 is the next upside target. First resistance is Thursday's high crossing at 0.0962. Second resistance is September's high crossing at 0.0963. First support is October's low crossing at 0.0943. Second support is September's low crossing at 0.0940.