Forex Morning Briefing, Major Pairs

Forex Morning Briefing, Major Pairs


Commentary: Nothing New. PE

US Dollar (.DXY) Index at 92.42 rose above my target at 92.25 to test at 92.50. A rise past this mark could be very Bullish USD.

EUR (Euro) at 1.1878 contrary to the expectation of a slow rise to 1.2050 broke below major support at 1.19. This threatens the uptrend since 1.1119, and suggests chances of a dip to 1.1810.

USD/JPY at 110.52 broke above resistance at 110.50 to see a high near 110.73 and may now test 111.00 the 21-Wk MA on the Northside.

The resistance at 132 on EUR/JPY now at 131.27 held well due to the fall in the single currency. A further decline towards 130.35 may be seen in here, which may limit the Northside in USD/JPY to 111 now.

Sterling (GBP) at 1.3202 traded down from just above 1.33. While GBP does not look as weak as the EUR, the 1.33-34 area can now be seen as strong medium-term resistance.

AUD (Aussie) at 0.8007 dipped instead of moving up to 0.8070. It has done better than EUR by bouncing from 0.7966 Thursday, just above support at 0.7950. It may be able to regain Bullishness if it is able to hold the rise Thursday, watch in here.

USD/CNY at 6.5571 marked a significant bottom on the dip below 6.45. A rise above 6.55 can lead to much higher marks.

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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