Forex Major Pairs Morning Briefing

$DXY, $EUR, $GBP, $JPY, $AUD

Commentary:.DXY was little changed at 96.73 as it saw some selling pressure after marking a 14-month high in morning trade. President Donald Trump has repeatedly called for a weaker USD in a bid to help US exporters, his recent trade policies, including the imposition of import tariffs on some Turkish goods, have had the opposite effect of strengthening the world’s #1 Reserve currency. PE

The major pairs the close Friday in NY

• The US Dollar (.DXY) Index trades little changed at 96.73
• EUR/USD: +0.12% to 1.1359
• GBP/USD: +0.06% to 1.2703
• USD/CHF: +0.35% to 0.9969
• USD/JPY: +0.18% to 110.88
• USD/CNY: -0.80% to 6.879
• USD/TRY: -1.93% to 5.837.
• AUD/USD: +0.25% to 0.725

At the open in Asia

Note: US Dollar (.DXY) strength could pause to refresh during the first part of this week with EUR strengthening to 1.147-1.155 and the Japanese Yen to 110.0-109.5. The broader trend looks supportive of continued USD strength in the weeks ahead.

EUR (Euro) at 1.143: The single currency has risen to 1.145. There is important resistance in the 1.147-1.155 area. We preference that the resistance holds not, leading to a Southside move to 1.13 towards the end of this week.

The US Dollar (.DXY) Index at 96.17: .DXY sees support at 95.75-95.50, barring that .DXY could rise to 97 during this week. A clear break below 95.50 possible in here.

USD/JPY (Dollar Yen) at 110.54): The pair is trading below 111.0-111.2, and while it does in the next few session looks it looks Bearish to 110.0-109.5, this is important support. A clear break below this mark will be Bearish and not seen yet.

EUR/JPY (Euro Yen) 126.38): The pair seed resistance at 126.6-127.0, and that mark may cap the Northside this week. The support is at 124.62 which must be broken to confirm Bearishness to 1.23-1.22.

Sterling (GBP)1.2742: The Great British Pound’s broader trend is Bearish to 1.25-1.24 ahead now, but, this week may see  a move to resistance at 1.285.

Have a terrific week

  .DXY, AUD, bearish, briefing, EUR, forex, GBP, jpy, resistance, support, test

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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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