Forex Morning Briefing, Major Pairs

Forex Morning Briefing, Major Pairs


Commentary: The USD weak overall Vs the major peers.PE

Friday we saw fresh strength in EUR at 1.1828, which has risen from a low of 1.1748. Good support is seen at 1.1720-00, reducing concern of the risk of a fall to 1.1650-00.

UUSD/JPY at 109.40, no follow through and the trend remains overall Bearish with intra-day/ intra-week resistance at 109.70-90. Near-term support now at 108.68. Thus, a sideways movement is to be considered.

EUR/JPY at 129.36 trading above 128, a Key support on the weekly candles. If there is a strong bounce above 130 then it might rekindle the risk on trade, which came into doubt last week.

Good support is seen at 1.29 Sterling at 1.3016 on the 3-day candles and dips might get bought for a bounce towards 1.32.

AUD (Aussie) at 0.7905 bounced from the support at 0.7835 mentioned Friday. So, it might garner strength to rise to 0.80.

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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