Forex Morning Briefing, Major Pairs

Forex Morning Briefing, Major Pairs


Commentary: Nothing New. PE

The US Dollar (.DXY) Index at 97.00 marked my initial target at 96.80, the trend is South as long as it is unable to rise above the last swing high at 97.80 and the long term support of 96.50 may be tested in here.

EUR (Euro) at 1.1240 rallied as expected and has paused around the current year high of 1.1267, but the rise may soon resume for a move to 1.1300.

USD/JPY at 110.95 shows no directional intent yet, as it keeps trading around 111.00, the middle of its range at 110.00-112.00. Better to wait for a breakout as any attempt to gauge directional signals from this action may be deceiving.

Sterling (GBP) at 1.2873 has been met my target, and while the next target of 1.3000 may be seen in the next few sessions, the chance of a prolonged phase of sideways consolidation in the broader range of 1.2750-1.3000 in the cards, 1.2750-00 is Key support near to medium term.

AUD (Aussie) at 0.7390 has broken below support at 74.00. If a recovery above 74.00 is not seen immediately, then it may be pulled to the prior swing lows near 0.7325.

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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