Forex Morning Briefing, Major Pairs

Forex Morning Briefing, Major Pairs


Commentary: Nothing New. PE

Good strength in USD Monday, with The US Dollar (.DXY) Index at 93.87 close to 94.00 then 94.51

EUR (Euro) at 1.1707 broke below last week’s low at 1.1716 and USD/EUR at 113.10 rising again after dipping to 112.09 last week, the single currency might find support near 1.1665.

USD/JPY at 113.10 could test Key resistance at 113.50-60 this week

EUR/JPY at 132.44 could find 1st support at 132.00, the 21–Day MA, reduces the chances of falling towards 131.00.

Sterling (GBP) at 1.3249 fell sharply Monday. Medium term target is 1.30, with 1st supports seen near 1.32 and 1.3150.

A low of 0.7781 has been seen on AUD (Aussie) at 0.7820) Monday, which might turn out to be a support this week. Or, there may be room down to 0.7750-00. We have to see.

USD/CNY at 6.6532 marked a high of 6.6819, a little short of my target of 6.70, and has come off. This suggests chances of sideways consolidation between 6.62-6.70 over the next 2 of weeks.

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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