Forex Morning Briefing, Major Pairs

Forex Morning Briefing, Major Pairs


Commentary: Nothing New. PE

US Dollar (.DXY) Index at 95.73 is staying above the support of 95.50-40 in here, but it has to rise above 96.00-50 to trigger any short covering. The trend is South.  USD may see a bounce to 96.40-80.

EUR (Euro) at 1.1415 may fail to rise above 1.1450-70 this week, if USD bounces.

USD/JPY at 112.41 is looking for direction after the defeat of the ruling party in the Tokyo election. And 113.00 may be re-tested as long as support at 111.70, but failure to extend the rise above 113.00 could push it down again.

Sterling (GBP) at 1.3004 is trading very close its 10-month high at 1.3047, so a clear break above that mark may drive it towards 1.3200, 1st support comes it at 1.2930ish.

AUD (Aussie) at 0.7673 met my initial target at 0.7700. See resistance band of 0.7700-0.7800 holding for the next few sessions, and while the resistance holds, the commodity currency may test the support at 0.7630.

Have a terrific week.

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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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