Forex Morning Briefing

Forex Morning Briefing


Commentary: USD weakness halted. PE

The US Dollar (.DXY) Index at 93.823 has continued its rise towards resistance at 94.00 on the 3 day candles and the daily line. There could be a dip after touching 94.00 or else, in case of a breach of 94.00, it will test resistance at 94.4-94.5 on the daily candle and then a dip is likely.

EUR (Euro) at 1.176 is moving to support on 3 day candle and daily line at 1.1760-1.1750. If .DXYdips from 94 might see a hold of support for the single urrency at 1.1750-1.1760, but if .DXY moves to 94.50, the EUR could test support at 1.17 on the daily candle.

USD/JPY at 113.33 is on way to test resistance at 113.40-113.50 on the daily lines, as .DXY and EUR move towards 94 and 1.175 respectively. If they move further towards 94.50 and 1.170 respectively, we could see USD/JPY rise to test resistance around 113.80-114.00 on the 3-Day and weekly lines.

Sterling (GBP) at 1.3478 tested support Thursday at 1.3320 and bouncing to close at 1.3472, where it is trading now. It can now rise towards 1.355 to test resistance, after which there could be a dip.

Have a terrific weekend

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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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