EUR/USD closed higher on Friday and above the 20-day moving average crossing confirming that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are bullish signalling that a short-term low is in or is near. If it extends last week's rally, the reaction high crossing is the next upside target. Closes below the reaction low crossing would renew the decline off August's high.

USD/JPY closed higher on Friday but the low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral to bearish signalling that sideways to lower prices are possible near-term. Closes above Monday's low crossing are needed to confirm that a short-term low has been posted.

GBP/USD closed higher due to short covering on Friday and the high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning neutral to bullish hinting that a short-term low might be in or is near. Closes above the 20-day moving average crossing would temper the near-term bearish outlook. If it extends last month's decline, the reaction low crossing is the next downside target.

USD/CHF closed higher on Friday as it consolidates some of this summer's decline. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are overbought and are turning bullish signalling that at the very least a correction is possible. Closes above the 20-day moving average crossing would confirm that a short-term low has been posted. If it extends this summer's decline, the 2009 low crossing is the next downside target.