Forex Morning Briefing, Major Pairs

Forex Morning Briefing, Major Pairs
Forex Morning Briefing, Major Pairs

$DXY, $EUR, $JPY, $GBP, $AUD

Commentary: Nothing new. PE

The US Dollar (.DXY) Index at 93.33 is ranged between 93-94.10 and a weekly close above 94.10 could open up 95 and 96.30. The larger trend is South, but we have to a little cautious beyond 94.10 to see the possibility of a change in trend short term.

EUR (Euro) at 1.1762 continues its corrective behavior and a upside possibilities can be considered only on a break above 1.1800-25. The Southside risk for 1.1650-00 remains greater till that happens.

USD/JPY at 108.92 broke below important support at 109.50. There are chances of seeing fresh fall towards 108.10 in the next few sessions. Near term looks Bearish to me.

Sterling (GBP) at 1.2983 has come off some. 1.3050 is an important mark to watch for and while the price remains below 1.3050 have to allow for a fall to 1.2930 or 1.2850 near term.

AUD (Aussie) at 0.7849 is headed to 0.7835 its interim support. On a clear break below 0.7835, then consider a fall to 0.7760 ahead.

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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