Forex Morning Briefing, Major Pairs

Forex Morning Briefing, Major Pairs


Commentary: The currency markets are preparing for the shift to a more Hawkish stance by the central banks from the 10yrs long accommodative stance, pushing the yields higher everywhere and strengthening majors Vs USD. US NFPs data are the Key focus Friday.PE

Note: the major pairs have been in a normal correction mode, and further break of major supports are required before the downtrend can be confirmed.

The correction of Euro at 1.1415 has probably ended as it bounced back near to the year high of 1.1445 and The US Dollar (.DXY) Index at 95.92 is now below 96.00.

If the US NFPs data comes weak, USD to test the major support of 95.50-40 while EUR may rise further toward the long term resistance at 1.15-1.16.

USD/JPY at 113.69 is rallying to targets at 114.30-115.00 as expected with 1st support coming at 113.00-112.75.

Sterling (GBP) at 1.297 saw an immediate rally, but needs a clear break above the major resistance area of 1.3030-50 to negate Southside risks and confirm move North to 1.3200.

AUD (Aussie) at 0.7585 is weak despite the global USD weakness and may test the lower support at 0.7530-15.

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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