Friday, September 11, 2009

CURRENCY MARKET RECAP

September US Dollar closed down 0.275 at 76.825. This was 0.115 up from the low and 0.405 off the high.

September Euro closed up 0.43 at 145.86. This was 0.83 up from the low and 0.28 off the high.

September Japanese Yen finished up 0.53 at 109.03, 0.35 off the high and 0.65 up from the low.

September Swiss finished up 0.38 at 96.34, 0.2 off the high and 0.8 up from the low.

September Canadian Dollar finished up 0.25 at 92.75, 0.05 off the high and 0.86 up from the low.

September British Pound closed up 1.36 at 166.67. This was 1.86 up from the low and 0.21 off the high.

Technical Outlook
JAPANESE YEN (SEP) 09/11/2009: The crossover up in the daily stochastics is a bullish signal. Daily stochastics have risen into overbought territory which will tend to support reversal action if it occurs. A positive signal for trend short-term was given on a close over the 9-bar moving average. With the close higher than the pivot swing number, the market is in a slightly bullish posture. The next upside objective is 109.95. With a reading over 70, the 9-day RSI is approaching overbought levels. The next area of resistance is around 109.52 and 109.95, while 1st support hits today at 108.53 and below there at 107.96.

EURO (SEP) 09/11/2009: Daily stochastics have risen into overbought territory which will tend to support reversal action if it occurs. A positive signal for trend short-term was given on a close over the 9-bar moving average. With the close higher than the pivot swing number, the market is in a slightly bullish posture. The near-term upside target is at 146.83. With a reading over 70, the 9-day RSI is approaching overbought levels. The next area of resistance is around 146.42 and 146.83, while 1st support hits today at 145.32 and below there at 144.62.

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