Forex Morning Briefing, Major Pairs

Forex Morning Briefing, Major Pairs


Commentary: USD sold off to 93.22 after FOMC statement. PE

More strength in EUR (Euro) at 1.1744, breaking above the earlier Keu resistance at 1.1712. This run opens up targets at 1.18-20.

USD/JPY  has come down to 110.98, giving back almost all the recent gains up to 112. Supports seen at 110.50 and then at 110.00.

The EUR/JPY at 130.26 looks to rise further to 132, possibly led by EUR. Dips likely to be bought.

Strong run in Sterling (GBP) at 1.3144, and AUD (Aussie) at 0.8044, if Sterling holds above 1.31 Thursday, look for a test of 1.32, the 1.34 will come into focus. Medium term support at 1.29-28. AUD has no near term resistance till 0.81, at least and might be able to rise beyond that as well given the run in Copper

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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