Forex Morning Briefing, Major Pairs

Forex Morning Briefing, Major Pairs


Commentary: Nothing New. PE

USD/JPY at 109.36 broke above 108.70-90 bringing it back into the 108-111 range. The market may stall between 109.00-110.00 in hee. A break above 110 is needed to drive the market to higher.

EUR/JPY at 130.74 rose with USD/JPY, within an overall uptrend that can target 132+. This might also help EUR/USD at 1.1960 to maintain its uptrend by remaining above trend support at 1.1900.

Sterling (GBP) at 1.3177 is up from 1.28 since 23 August. Am looking for further Northside to 1.3270. But, it could see profit-taking soon if it is unable to move up to 1.3270 Tuesday.

AUD (Aussie) at 0.8011 is testing support at 0.8000, then to 0.7965. While these hold, I continue to be Bullish targeting 0.82, be ready for a near term dip to 0.7965.

More short-covering being seen in the USD/CNY at 6.5439, no seeing 6.5750.

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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