Thursday, September 22, 2011

Currency Gold Silver Copper Forecast Outlook


The December Dollar closed higher on Wednesday as it extends this week's
rally. The high-range close sets the stage for a steady to higher opening on
Thursday. Stochastics and the RSI are overbought but are turning neutral to
bullish signaling that sideways to higher prices are possible near-term. If
December renews the rally off August's low, the 62% retracement level of this
year's decline crossing at 79.16 is the next upside target. Closes below the
20-day moving average crossing at 76.21 would confirm that a short-term top has
been posted. First resistance is last Monday's high crossing at 78.30. Second
resistance is the 62% retracement level of this year's decline crossing at
79.16. First support is the 10-day moving average crossing at 77.44. Second
support is the 20-day moving average crossing at 76.21.

The December Euro closed slightly lower on Wednesday and the low-range close
sets the stage for a steady to lower opening on Thursday. Stochastics and the
RSI are neutral to bearish hinting that sideways to lower prices are possible
near-term. If December renews the aforementioned decline, the 62% retracement
level of the 2010-2011-rally crossing at 132.05 is the next downside target.
Closes above the 20-day moving average crossing at 140.09 are needed to confirm
that a short-term low has been posted. First resistance is last Thursday's high
crossing at 139.25. Second resistance is the 20-day moving average crossing at
140.09. First support is last Monday's low crossing at 135.01. Second support
is the 62% retracement level of the 2010-2011-rally crossing at 132.05.

The December British Pound closed sharply lower on Wednesday as it extends
this week's breakout below the 50% retracement level of the 2010-2011-rally
crossing at 1.5732. The low-range close sets the stage for a steady to lower
opening on Thursday. 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
2010-2011-rally crossing at 1.5501 is the next downside target. Closes above
the 20-day moving average crossing at 1.5986 would confirm that a short-term
low has been posted. First resistance is the 10-day moving average crossing at
1.5766. Second resistance is the 20-day moving average crossing at 1.5986.
First support is today's low crossing at 1.5543. Second support is the 62%
retracement level of the 2010-2011-rally crossing at 1.5501.

The December Swiss Franc closed lower on Wednesday as it renewed the decline
off August's high. The low-range close sets the stage for a steady to lower
opening on Thursday. Stochastics and the RSI are oversold but remain neutral
signaling that sideways to lower prices are possible near-term. If December
extends the decline off August's high, the 62% retracement level of the
2010-2011-rally crossing at .10916 is the next downside target. Closes above
the 20-day moving average crossing at .11863 are needed to confirm that a
short-term low has been posted. First resistance is the 10-day moving average
crossing at .11379. Second resistance is the 20-day moving average crossing at
.11863. First support is today's low crossing at .11155. Second support is the
62% retracement level of the 2010-2011-rally crossing at .10916.

The December Canadian Dollar closed sharply lower on Wednesday spiking below
the lower boundary of the August-September trading range crossing at 99.51. The
low-range close sets the stage for a steady to lower opening on Thursday.
Stochastics and the RSI have turned bearish signaling that sideways to lower
prices are possible near-term. If December extends the decline off July's high,
the 62% retracement level of the 2010-2011-rally crossing at 97.94 is the next
downside target. Closes above the 20-day moving average crossing at 101.09
would confirm that a short-term low has been posted. First resistance is the
10-day moving average crossing at 100.72. Second resistance is the 20-day
moving average crossing at 101.09. First support is today's low crossing at
99.41. Second support is the 62% retracement level of the 2010-2011-rally
crossing at 97.94.

The December Japanese Yen posted a downside reversal on Wednesday as it
consolidated some of the rally off this month's low. The low-range close sets
the stage for a steady to lower opening on Thursday. Stochastics and the RSI
are overbought but remain neutral to bullish signaling that sideways to higher
prices are possible near-term. Closes above August's high crossing at .13173
are needed to renew this year's rally. If December renews the decline off
August's high, the 25% retracement level of the April-August rally crossing at
.12810 is the next downside target. First resistance is August's high crossing
at .13173. First support is this month's low crossing at .12860. Second support
is the 25% retracement level of the April-August rally crossing at .12810.

December Gold closed lower on Wednesday as it consolidates below the 20-day
moving average. The low-range close sets the stage for a steady to lower
opening on Thursday. Stochastics and the RSI are oversold but remain neutral to
bearish signaling that sideways to lower prices are possible near-term. If
December extends this month's decline, the reaction low crossing at 1705.40 is
the next downside target. If December renews this year's rally into uncharted
territory, upside target are hard to project. First resistance is this month's
high crossing at 1920.70. First support is last Friday's low crossing at
1765.40. Second support is the reaction low crossing at 1705.40.

December Silver closed lower on Wednesday as it consolidates below the
July-August uptrend line crossing near 41.185. The low-range close set the
stage for a steady to lower opening on Thursday. Stochastics and the RSI are
oversold but remain neutral to bearish signaling that sideways to lower prices
are possible near-term. If December extends this month's decline, the reaction
low crossing at 38.810 is the next downside target. Closes above the
July-August uptrend line crossing near 41.185 would temper the near-term
bearish outlook. First resistance is the 20-day moving average crossing at
40.932. Second resistance is the July-August uptrend line crossing near 41.185.
First support is the reaction low crossing at 38.810. Second support is
August's low crossing at 37.055.

December Copper closed slightly higher on Wednesday as it consolidates above
the 50% retracement level of the 2010-2011-rally crossing at 372.15. The
low-range close sets the stage for a steady to lower opening on Thursday.
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 the late-August high, the 62% retracement level of the
2010-2011-rally crossing at 351.22 is the next downside target. Closes above
the 20-day moving average crossing at 401.31 would confirm that a short-term
low has been posted. First resistance is the 10-day moving average crossing at
391.03. Second resistance is the 20-day moving average crossing at 401.31.
First support is Tuesday's low crossing at 370.55. Second support is the 62%
retracement level of the 2010-2011-rally crossing at 351.22.

Click here to review more forex resources.

Click here to review more precious metal resources.