Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing

$DXY, $EUR, $GBP, $JPY

Commentary: Pressure on the Buck. PE

US Dollar (.DXY) Index at 92.43 testing to the 13-Day MA at 92.45, it may see some support. If it dips below 92.4-92.3, it could test the 21-Day MA at 91.6 and then move up or down from there.

EUR (Euro) at 1.1962 is trading in the 1.1960-1.1990 resistance zone. Above the 13-Day MA, it could even test the 21-Day MA at 1.209 halt and continue its move South.

USD/JPY at 109.33 broke support. While it trades above 109, a rise back to 110.5-111.0 this week is possible. If it breaks below 109.2, it could turn Bearish medium term.

EUR/JPY at 130.76, this week there could be some move in the pair towards 132 as EUR rises to 1.200-1.205 if it does. Expecting EUR and UDS/JPY to turn Bearish in the next 2 weeks, driving the pair below 129.

Sterling (GBP) at 1.3567 is currently trading at 1.3567 and so could move up this week to 1.37, after then the move South might resume.

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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