Forex Major Pairs Morning Briefing

Forex Major Pairs Morning Briefing

Forex Major Pairs Morning Briefing

$DXY$EUR$GBP$JPY, $AUD

Commentary: US Dollar (.DXY) Index off 0.8% at 95.12, back at August lows. USD retreated in overnight action, but climbed off its low in early-morning trade, the rebound was short-lived, as .DXY saw resistance near its Monday’s closing mark. Intra-day action saw a move to the overnight low, with the slide accelerating after Dallas Fed President Robert Kaplan said he expects Neutral rates to be reached after 3 to 4 more rate hikes. Mr. Kaplan does not have an FOMC vote this year and will only be an alternate voter in Y 2019. Notably, .DXY has given back all of its gain from last week surrendering 1.6% since last Wednesday. PE

The major pairs close on Tuesday in New York

  • EUR/USD: +0.88% at 1.1590
  • GBP/USD: +0.85% at 1.2906
  • USD/CHF: -0.64% to 0.9846
  • USD/JPY: +0.27% at 110.33
  • USD/CNY: -0.15% to 6.844
  • AUD/USD: +0.47% at 0.73704

In Asia Wednesday

US Dollar (.DXY) Index at 95.55 has been fading during the last 3-4 sessions after testing at 97.

Note: 1st support is at 95.50 if it holds in here may halt further fall below 95.50, instead bring a bounce.

EUR (Euro) at 1.1518 moved up on USD weakness, 1.1550 is important resistance, and while below 1.1550 more Southside seen, or barring that a rise to 1.1600-1.1625 could happen.

USD/JPY (Dollar Yen) at 110.00: The pair is trading at support now. A clear break below 110 sees 109.30. The weekly looks Bearish in here.

Note: 109.50-109.30 is an important support near term.

EUR/JPY (Euro Yen) at 126.73: The pair has support at 124 and resistance at 127 on the weekly. If 127 holds see a fall to 124  near term.

Sterling (GBP) at 1.2824: The Great British Pound is up above 1.28 and while it holds see Northside to 1.290-1.295.

Note: Looking at the 3-Day and weekly, medium term looks Bearish to 1.26 and lower.

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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