Forex Major Pairs Morning Briefing
$DXY, $EUR, $GBP, $JPY, $AUD
Commentary: This is crucial mark in most currencies. There is the chance that the current USD’s strength could see a correction/reversal next month. This become bigger if certain Support and Resistances hold. PE
Notes: USD strength might see a return this week, EUR looks like it might dip from 1.17, RMB Yuan might not break below 6.80 and JPY might move up 112-113. Forex Traders are focused on the Turkish Lira now.
US Dollar (.DXY) Index at 95.05 now seeing important support coming at 95.00-94.75, but, while .DXY trades above this mark, another to and beyond 96 this week can happen.
EUR (Euro) at 1.1633: The single currency has major resistance coming at 1.1675-1.1700. Above that, on the weekly prior support might turn to resistance 1.175. EUR while trading below these resistances could dip to 1.155 again.
USD/JPY (Dollar Yen) at 111.00: The pair broke above important resistance at 111 last week and is currently trading at that mark. If it trades above 111, it could test resistance 113 on weekly in the weeks ahead. So, this week we could see a gradual up to 112.
EUR/JPY (Euro Yen) at 129.14: The pair has important resistance at 130-131 which might cap this move. A clear break of 130-131 would be Bullish.
Sterling (GBP) 1.2855: The Great British Pound is trading at 1.285 the important resistance mark. A a clear break above 1.285 could lead to a move to 1.3050 this week. The longer term trend is expected to stay Bearish now.
USD/CNY (Dollar Yuan) at 6.8215: The pair risen from support at 6.80. While RMB Yuan trades above 6.80, it could rise to 6.89 during this week.
USD/TRY (Turkish Lira) at 5.99: The Key levels to focus on are 6.19-20 and 5.96. A break on either side might trigger a significant move North or South. There is some trader expectation of volatility in TRY this week. pay attention to the above mentioned marks.
Have a terrific week