Saturday, September 12, 2009

CURRENCY MARKET RECAP

December US Dollar closed down 0.155 at 76.930. This was 0.215 up from the low and 0.160 off the high.

December Euro closed down 0.07 at 145.76. This was 0.24 up from the low and 0.59 off the high.

December Japanese Yen finished up 1.27 at 110.36, 0.56 off the high and 1.33 up from the low.

December Swiss finished up 0.12 at 96.48, 0.32 off the high and 0.24 up from the low.

December Canadian Dollar finished up 0.09 at 92.8, 0.55 off the high and 0.14 up from the low.

December British Pound closed up 0.07 at 166.69. This was 0.26 up from the low and 0.73 off the high.

Technical Outlook
JAPANESE YEN (DEC) 09/14/2009: Momentum studies are trending higher but have entered overbought levels. The market's short-term trend is positive on the close above the 9-day moving average. The market has a bullish tilt coming into today's trade with the close above the 2nd swing resistance. The near-term upside objective is at 112.07. The market is approaching overbought levels with an RSI over 70. The next area of resistance is around 111.34 and 112.07, while 1st support hits today at 109.46 and below there at 108.30.

EURO (DEC) 09/14/2009: Momentum studies are trending higher but have entered overbought levels. The market's short-term trend is positive on the close above the 9-day moving average. The daily closing price reversal down puts the market on the defensive. The market has a slightly positive tilt with the close over the swing pivot. The near-term upside objective is at 146.68. The next area of resistance is around 146.18 and 146.68, while 1st support hits today at 145.36 and below there at 145.03.

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