| Daily Forex Technicals | Written by HY Markets | Apr 13 09 08:24 GMT | | |
| EUR/USD closed lower on Thurs and below the 20-day moving average crossing. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible near-term. Closes below last Monday's low crossing are needed to confirm that a short-term top has been posted. If it renews last week's rally, March's high crossing is the next upside target.
USD/JPY closed higher on Thursday as it consolidated some of this month's decline. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are oversold but are neutral to bullish signalling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing would temper the near-term bearish outlook. If it extends this month's decline, the 75% retracement level of last fall's rally crossing is the next downside target.
GBP/USD closed lower on Thursday as it extends last week's decline. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are overbought and are neutral to bearish signalling that sideways to higher prices are possible near-term. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted. If it extends the rally off March's low, January's high crossing is the next upside target.
USD/CHF closed higher on Thursday and below the 20-day moving average crossing. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. Closes below last Monday's low crossing would confirm that a short-term top has been posted. If it renews last week's rally, March's high crossing is the next upside target.
HY Markets | |
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