Forex Morning Briefing

Forex Morning Briefing

$DXY, $EUR, $JPY, $GBP

Commentary: USD weakness persists. PE

US Dollar (.DXY) Index at 92.908 saw a low of 92.49 Monday, but has stayed above support near 92.70 and currently trades at 92.90, indicating possibility ranged action within 92.80 to 93.00 in the next 2 sessions, before it moves up into the end of the week.

EUR (Euro) at 1.1900 is testing resistance at 1.19 on the weekly, but it is yet to be seen if this resistance will hold, if it does not, Euro could rise beyond 1.22 fast.

USD/JPY at 111.23 moved down further on the strengthening of Japanese 10 yr yields, and could be expected to test near 110 next week. But, there are signs of fresh USD strength, which could thereby lead to a quick reversal in trend from 110.50.

Sterling (GBP) at 1.3322 trading below resistance at 1.335 and looking like a bit of a dip is in process starting off another phase of ranged movement within 1.33 and 1.335.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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