CURRENCY MARKET RECAP

December US Dollar closed down 0.21 at 76.750. This was 0.090 up from the low and 0.565 off the high.

December Euro closed up 0.53 at 146.66. This was 1.08 up from the low and 0.19 off the high.

December Japanese Yen finished down 0.19 at 109.84, 0.38 off the high and 0.65 up from the low.

December Swiss finished up 0.07 at 96.75, 0.2 off the high and 0.71 up from the low.

December Canadian Dollar finished up 1.03 at 93.27, 0.11 off the high and 1.27 up from the low.

December British Pound closed down 0.74 at 164.99. This was 0.98 up from the low and 1.62 off the high.

Technical Outlook
JAPANESE YEN (DEC) 09/16/2009: A crossover down in the daily stochastics is a bearish signal. Momentum studies trending lower from overbought levels is a bearish indicator and would tend to reinforce lower price action. The close above the 9-day moving average is a positive short-term indicator for trend. The market's close below the pivot swing number is a mildly negative setup. The next downside target is 108.74. The next area of resistance is around 110.33 and 110.79, while 1st support hits today at 109.31 and below there at 108.74.

EURO (DEC) 09/16/2009: Studies are showing positive momentum but are now in overbought territory, so some caution is warranted. The close above the 9-day moving average is a positive short-term indicator for trend. The close over the pivot swing is a somewhat positive setup. The next upside target is 147.70. The market is approaching overbought levels with an RSI over 70. The next area of resistance is around 147.28 and 147.70, while 1st support hits today at 146.02 and below there at 145.17.