Technical Indicators
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Daily Technical Indicators from PipTrade.
Technical Indicators - 6 July 2010
EUR/USD closed lower on Monday as it extended this month's decline.
The mid-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are diverging but turning bullish signalling that sideways to higher prices are possible near-term. If it extends this month rally, the reaction high crossing is the next upside target.
USD/JPY closed unchanged on Monday and the mid-range close sets the stage for a steady opening on Tuesday.
Stochastics and the RSI remain neutral to bearish signalling that sideways-to-lower prices are possible near-term. If it extends this month's decline, last November's low crossing is the next downside target. Multiple closes above the 20-day moving average crossing would confirm that a short-term low has been posted.
GBP/USD closed lower on Monday and the low-range close sets the stage for a steady-to-lower opening on Tuesday.
Stochastics and the RSI are overbought but remain neutral to bearish signalling that sideways to lower prices are possible near-term. If it extends this month's decline, the 38% retracement level of the 2009-2010-rally crossing is the next downside target. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted.
USD/CHF closed higher on Monday and the mid-range close sets the stage for a steady opening on Tuesday.
Stochastics and the RSI are overbought but remain neutral to bearish signalling that sideways to lower prices are possible near-term. If it extends this month's decline, the 62% retracement level of the 2009-2010-rally crossing is the next downside target. Closes above the 20-day moving average crossing are needed to confirm that a short-term low has been posted.
US Stock Market Indices
The Dow Jones closed lower on Monday as it extended this spring's decline. A short covering rally tempered early losses and the low-range close sets the stage for a steady-to-lower opening on Tuesday. Stochastics and the RSI are becoming oversold but remain bearish signalling that sideways to lower prices are possible near-term.
The S+P 500 closed lower on Monday as it extends this week's decline. The low-range close sets the stage for a steady-to-lower opening on Tuesday. Stochastics and the RSI are oversold but remain bearish signalling that sideways to lower prices are possible near-term.
The NASDAQ closed lower on Monday and below May's low thereby renewing this spring's decline. The mid-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are becoming oversold but remain bearish signalling that sideways to lower prices are possible near-term.
Gold
Gold closed higher due to short covering on Monday as it consolidated some of last week's decline.
The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI remain bearish signalling that sideways-to-lower prices are possible near-term. If it extends last week's decline, the reaction low crossing is the next downside target.
Crude Oil
Crude Oil closed lower on Monday and the low-range close sets the stage for a steady-to-lower opening on Tuesday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends this week's decline, the reaction low crossing is the next downside target. Closes above the 10-day moving average crossing would confirm that a short-term low has been posted.
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The contents of this report are for information purposes only.
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'Technical Indicators' edited by DB, updated 07-Jul-10
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