Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: Again, .DXY wedkened, EUR strengthened. PE

The US Dollar (.DXY) Index at 94.71, seen testing support at 94.5 on daily lines and candles. 94.2 is also an important support mark which could slow the current fall in .DXY. A break below 94.2 would be Bearish near term.

EUR (Euro) at 1.1656): A migration deal between EU leaders has strengthened the Euro single currency, It has  tested resistance at 1.169-1.170 on daily candles. While trading below 1.17, it could again dip back to 1.155. But, a clear above 1.17 could make it Bullish to 1.183-1.185 near term.

USD/JPY at 111.00 broke above major resistance at 110.75 to test a high at 111. The May high a 111.40 is an important mark now, a clear break there makes USD/JPY Bullish.

EUR/JPY at 129.40 is testing resistance in here, and could move up to 130 this week. A clear break above 130.30 would be Bullish.

Sterling (GBP) at 1.3180, weakness in the USD could be reflected Vs GBP this week. And GBP could move to resistance at 1.33, a clear break there is Bullish going forward. But, if it breaks lower, then medium term could be Bearish, stay focused.

Have a terrific 4th of July Freedom 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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