Forex Morning Briefing
Commentary: Seeing strength ahead for USD. PE
The US Dollar (.DXY) Index at 90.907 saw at high at 91.08 breaking Key resistance on the daily lines 90.50-90.75. If this break holds it could mean medium term Bullishness, we will see.
EUR (Euro) at 1.2207 saw a low of 1.2185 and is testing the 21 wk MA on weekly line s, which could provide some support, but a break below 1.215 could prove to be Very Bearish.
USD/JPY at 108.74, now we need to see if the 21-Wk MA provides resistance or if the USD/JPY rises to 110. See the Northside restricted at 110 short term, then a turn Bearish.
EUR/JPY at 132.75 has risen past 132.3 due to the USD/JPY’s Bullishness. A break below support on daily candle at 132.5 could happen if EUR breaks below 1.215.
Sterling (GBP) at 1.3938 after breaking support Monday dipped further and could test Key long term support at 1.385 on weekly lines in the next 1-2 sessions. If this support breaks, GBP could turn Very Bearish medium term, but if it holds, could see a rally to long term resistance 1.46 longer term.
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