The September Euro currency closed down 90 points at 1.2788 today. Prices closed nearer the session low today, scored a bearish “outside day” down on the daily bar chart and hit a fresh three month low. Bears still have the solid overall near term technical advantage.
The September Japanese yen closed down 9 points at .9898 today. Prices closed near mid-range in quieter trading. The bears still have the overall near term technical advantage. Prices are in a three week old downtrend on the daily bar chart.
The September Swiss franc closed down 103 points at 1.0282 today. Prices closed nearer the session low today and hit a fresh five week low. The bears have the solid near term technical advantage. Prices are in a steep four week old downtrend on the daily bar chart.
The September Canadian dollar closed up 24 points at .9480 today. Prices closed nearer the session high today on more tepid short covering in a bear market. Prices last Friday hit a contract low. Bears have the solid near term technical advantage.
The September British pound closed down 85 points at 1.4857 today. Prices closed nearer the session low and hit a fresh contract low today. Bears have the solid near term technical advantage. Prices are in a steep four week old downtrend on the daily bar chart.
The September U.S. dollar index closed up .421 at 84.835 today. Prices closed nearer the session high today and hit another fresh three year high. The bulls have the solid near term technical advantage. Safe haven demand due to the crisis in Egypt and stronger U.S. economic data are supporting the greenback.
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