Forex Morning Briefing, Major Pairs

Forex Morning Briefing, Major Pairs

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

Commentary: Nothing New. PE

US Dollar (.DXY) Index at 93.23 failed to crack 94.00 Thursday, dipping from a high of 93.67. Friday may be ranged with 93.00-93.50.

EUR (Euro) at 1.1780 saw a high at 1.1804 Thursday, may range with 1.1740-1820 Friday. For a few days the market will pause to decide, whether it wants to push the single currency lower to 1.1665 or not.

USD/JPY at 112.67 came off from an intra-day high of 113.21 Thursday, which might establish 113.50 as Major resistance. An intra-day fall and close below 112.40-30 will encourage this.

EUR/JPY at 132.70 consolidated Thursday. Look for a fall to 131 next week.

Sterling (GBP) at 1.3410 saw selling when it rallied to 1.3455 Thursday. Friday is likely to be quiet between 1.3440-3365. The bigger picture, the up-move since 1.1985 may have ended.

AUD (Aussie) at 0.7841 marked a low of 0.7800 Thursday, but did not carry further down to target of 0.7750. Friday might be quiet trade within 0.7875-15.

USD/JPY at 6.6760 continues to rise but may find some resistance, and run into profit-taking near 6.70.

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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