Forex Morning Briefing

Forex Morning Briefing

$DXY, $EUR, $JPY, $GBP, $AUD, $CNY

Commentary: Nothing New. PE

The US Dollar (.DXY) Index at 94.78 has come down from an overnight high near 95.07.

EUR (Euro) at 1.1608) has recovered off of a low at 1.1580.

Note: the overall uptrend in .DXY is in force while trading above 94.50 and the overall downtrend remains in force on the single currency, while below 1.1620 and 1.1670. My targets are 95.50 on .DXY, and 1.1550-30 on EUR.

USD/JPY at 113.78 rose to 114.73 Monday morning but came off sharply, and may try to test to 113.40 over the next couple of days while trading below 114.50.

EUR/JPY at 132.16 has come down with USD/JPY. Look for a wide trading range of 131-134 ahead.

Sterling (GBP) at 1.3166 held above trendline support 1.3050 and moved higher. A test of 1.33 looks possible in here.

AUD (Aussie) at 0.7686 moved up from 0.7630, but looks mixed between 0.7630-7730 now.

USD/CNY at 6.6265 trading bit lower and could spend some time sideways within 6.61-65 for a few sessions this week.

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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