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The December Euro closed higher due to short covering on Friday but remains below the 20 day moving average crossing at 112.26. The mid range close sets the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near term. If December extends this week's decline, the reaction low crossing at 110.39 is the next downside target. First resistance is August's high crossing at 117.30. Second resistance is the 38% retracement level of the 2014-2015 decline crossing at 118.34. First support is the reaction low crossing at 110.39. Second support is August's low crossing at 108.73.
The December British Pound closed lower on Friday as it extended its decline off August's high. The low range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If December extends the aforementioned decline, the 62% retracement level of the April-June-rally crossing at 1.5110 is the next downside target. Closes above the 20 day moving average crossing at 1.5516 would confirm that a short term low has been posted. First resistance is the 10 day moving average crossing at 1.5406. Second resistance is the 20 day moving average crossing at 1.5516. First support is today's low crossing at 1.5159. Second support is the 62% retracement level of the April-June rally crossing at 1.5110.
The December Swiss Franc posted an inside day with a higher close on Friday as it consolidates some of the decline off August's high. The high range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If December extends the decline off August's high, the reaction low crossing at 1.0248 is the next downside target. Closes above the 10 day moving average crossing at 1.0460 would confirm that a short term low has been posted. First resistance is the 10 day moving average crossing at 1.0460. Second resistance is August's high crossing at 1.0842. First support is the reaction low crossing at 1.0248. Second support is August's low crossing at 1.0147.
The December Canadian Dollar closed lower on Friday. The low range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near term. If December resumes the decline off May's high, weekly support crossing at 73.92 is the next downside target. Closes above the reaction high crossing at 77.10 are needed to confirm that a low has been posted. First resistance is the reaction high crossing at 77.10. Second resistance is the reaction high crossing at 77.68. First support is August's low crossing at 74.87. Second support is weekly support crossing at 73.92.
The December Japanese Yen closed higher on Friday as it extends this week's rally. The high range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near term. If December renews the rally off August's low, August's high crossing at .8603 is the next upside target. Closes below the 20 day moving average crossing at .8212 are needed to confirm that a short term top has been posted. First resistance is August's high crossing at .8603. Second resistance is January's high crossing at .8653. First support is the 10 day moving average crossing at .8349. Second support is the 20 day moving average crossing at .8212.
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