Foreign Exchange Market Commentary

Daily Forex Technicals | Written by HY Markets | Apr 14 09 03:05 GMT |

EUR/USD closed higher on Monday and below the 10-day moving average crossing. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. Closes below last week'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. USD/JPY closed higher on Monday against the dollar and below the 10-day moving average crossing. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. Closes below last week'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. GBP/USD posted an inside day and closed higher on Monday and below the 10-day moving average crossing. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. Closes below last week'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. USD/CHF closed higher on Monday against the dollar and below the 10-day moving average crossing. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. Closes below last week'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 http://www.hymarkets.com