Forex Morning Briefing
$DXY, $EUR, $JPY, $GBP
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.