EUR closed lower Wednesday,

The low range close set the stage for a steady to lower open Thursday.

Stochastics and the RSI are Bearish indicating that sideways to lower prices are possible near term.

If the single currency extends the decline off of its February highs, the monthly support crossing is the next Southside target.

Closes below the 20-Day MA crossing will confirm that a short term top is in.

JPY closed higher Wednesday and above the 10-Day MA crossing confirming that a short term bottom is in.

The high range close sets the stage for a steady to higher open Thursday.

Stochastics and the RSI are turning Bullish indicating that sideways to higher prices are possible near term.

If JPY renews the decline off of its March high, the February low crossing is the next Southside target.

Swiss Franc (CHF)

Suisse closed higher Wednesday.

The high range close set the stage for a steady open Thursday.

Stochastics and the RSI are Neutral to Bullish indicating that a short term bottom might be in or close.

Closes above the 20-Day MA crossing will confirm that a short term bottom is in.

If CHF extends its  decline off of the January highs, the weekly support crossing is the next Southside target.

Great British Pound (GBP)

Cable closed lower Wednesday, on a clear break to the Southside of the trading range of the past 4 wks.

The low range close set the stage for a steady to lower open Thursday.

Stochastics and the RSI are Neutral to Bearish indicating that sideways to lower prices are possible near term.

If GBP extends Wednesdays decline, the 38% Fibo retracement mark of the November- February rally crossing is the next Southside target.

Closes below the 20-Day MA crossing confirms that a short term top is in.

HEFFX was a big winner during the SNB triggered turmoil, the Private Fund and managed accounts saw spectacular returns, those following the HEFFX alerts and participating in our open dialogue at Trading Street

We have some big trades lined up for this week so join us in the Live Trading Room, Trade Sukuks, Treasuries, FX. Equities and Options with the World’s Leading Platform Open an account here. call us at 312 219 1354, or email us to get started.

Technical analysis is a method of forecasting price movements by looking at purely market-generated data. Price data from a particular market is most commonly the type of information analyzed by a technical trader.

After finding a trading system that works for you, the more cryptic and esoteric fields of study can then be incorporated into your technical and trading toolbox.The bottom line when utilizing any type of analytical method, technical or otherwise, is to hold to the basics, which are methodologies with a proven track record over a long period.