Trader's Blog

Are You Ready For Some Inflation?

7 hours ago

Futures Prices Continue To Push Higher

1 day ago

Weekly Stock Market Forecast

2 days ago

What Is Cryptocurrency Anyway?

3 days ago

World Oil Supply And Price Outlook, April 2021

4 days ago

View more blog entries »

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

CURRENCIES:

The June Dollar closed sharply lower on Monday and below the 50-day moving average crossing 91.55 thereby opening the door for a possible test of March's low crossing at 90.62. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to higher prices are possible near-term. If June extends the decline off March's high, March's low crossing 90.62 is the next downside target. Closes above the 20-day moving average crossing at 92.33 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 92.33. Second resistance is the 20-day moving average crossing at 92.33. First support is today's low crossing at 91.03. Second support is March's low crossing 90.62.

The June Euro closed sharply higher on Monday and above the 50-day moving average crossing at 119.90. The high-range close sets the stage for a steady to higher opening when Tuesday'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 June extends the rally off March's low, the March high crossing at 121.40 is the next upside target. Closes below the 20-day moving average crossing at 118.84 would signal that a short-term top has been posted. First resistance is today's high crossing at 120.63. Second resistance is March's high crossing at 121.40. First support is the 20-day moving average crossing at 118.84. Second support is March's low crossing at 117.21.

The June British Pound closed sharply higher on Monday and above the previous high crossing at 1.3922 signaling that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening when Tuesday'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 today's rally, February's high crossing at 1.4245 is the next upside target. First resistance is the March 12th high crossing at 1.4009. Second resistance is February's high crossing at 1.4245. First support is the 38% retracement level of the September-February-rally crossing at 1.3672. Second support is the 50% retracement level of the September-February-rally crossing at 1.3494.

The June Swiss Franc closed higher on Monday and above the 50-day moving average crossing at 1.0909 thereby opening the door for additional gains near-term. The high-range close sets the stage for a steady to higher opening when Tuesday'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 June extends the rally off April's low, the 50% retracement level of the January-April-decline crossing at 1.1014 is the next upside target. Closes below the 20-day moving average crossing at 1.0768 would signal that a short-term top has been posted. First resistance is the 50% retracement level of the January-April-decline crossing at 1.1014. Second resistance is the 62% retracement level of the January-April-decline crossing at 1.1117. First support is the 10-day moving average crossing at 1.0849. Second support is the 20-day moving average crossing at 1.0768.

The June Canadian Dollar closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday'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 the March 30th low, March's high crossing at 80.88 is the next upside target. Closes below the 50-day moving average crossing at 79.42 would open the door for a possible test of the February 26th low crossing at 78.42. First resistance is the 87% retracement level of the 2018-2020-decline crossing at 80.52. Second resistance is March's high crossing at 80.88. First support is the 50-day moving average crossing at 79.42. Second support is the February 26th low crossing at 78.42.

The June Japanese Yen closed sharply higher on Monday as it extends the rally off March's low. The high-range close sets the stage for a steady to higher opening when Tuesday'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 June extends the rally off March's low, the 38% retracement level of the January-March-decline crossing at 0.0930 is the next upside target. If June renews the decline off January's high, last-March's low on the monthly continuation chart crossing at 0.0900 is the next downside target. First resistance is the 50-day moving average crossing at 0.0928. Second resistance is the 38% retracement level of the January-March-decline crossing at 0.0930. First support is the 20-day moving average crossing at 0.915. Second support is March's low crossing at 0.0902.