Forex Morning Briefing

Forex Morning Briefing


Commentary: Y 2018 has started on a weak note for USD (.DXY). PE

EUR (Euro) at 1.2015 broke above 1.19 to see a high of 1.2080 and has retreated some from there. The single currency has intra-week support in the 1.1997-61 region and can target 1.21-22 in the next couple of weeks while the support holds.

USD/JPY at 112.68 has come down from resistance at 113.50 and may break below 112.00. If successful it can target 110 in the coming weeks, or it could move back up to 113.50. Watch this one.

EUR/JPY at 135.40 has risen above resistance at 134, but may have channel resistance at 135.70 on the weekly candles. It will be Key to see if this breaks or holds.

Sterling (GBP) at 1.3517 rose above 1.35 and further to 1.36 and higher.

AUD (Aussie) at 0.7827 was a Star performer in December and looks Bullish overall. But it has the Key 200-Wk MA resistance just above current marks, which needs to break to allow the Aussie to move higher.

CNY (RMB Yuan) at 6.5060 has long term support just below current marks and could see a bounce.

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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