Forex Morning Briefing

Forex Morning Briefing


Commentary: Nothing new. PE

The US Dollar (.DXY) Index at 93.945 is testing resistance at 94.00 on the 3 day candles and daily lines. This is Key resistance, a hold may signal a downtrend to 93 by end of the month. However a clear break then lead to a test of 94.40-94.50 on the daily candles, from where a dip may follow.

EUR (Euro) at 1.1768 is trading above 1st support on the 3 day candles, which is likely to hold and take it towards 1.19 by the end of this month. A break of 1st support could lead to test at 1.17, which could prove strong.

USD/JPY at 113.48 seems to be seeing a dip from resistance on the daily line. A further test of higher resistance at 114 could be possible with a dip to 112-112.5 in January 2018.

Sterling (GBP) at 1.3340 broke support at 1.335 and is expected to move to 1.32-1.3225, which is seen as a strong support level on daily, 3 day and weeklies.

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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