Forex Major Pairs Morning Briefing

Forex Major Pairs Morning Briefing

Forex Major Pairs Morning Briefing


Commentary: USD and EUR are moving against our expectatona in here. PE

The Dollar (.DXY) Index at 95.15: .DXY dipped Monday after marking a high 95.52 on the day. .DXY has support at 94.8, 21-Day MA, and 94.5 the trendline support. A test of 94.8 would align the EUR’s testing 1.165-1.167, and a test of 94.5 correspond to EUR’s testing at 1.17. While .DXY trades above 94.8-94.5, I see another move to 95.5, then to 96 over the next several sessions.

EUR (Euro) at 1.1603): The Euro bounced from support at 1.153 Monday, to1.16. It could run up to 1.167 Tuesday. 13-Wk MA is resistance at 1.167. If the single currency comes off from 1.165-1.167, then there could be a break below 1.153-1.151 in here, or a clear break above 1.167 augurs a test at 1.17 soon.

USD/JPY at 111.37: The pair found support 111 on daily, and it is holding. While the pair trades above 110.59, seeing it setting up for a move to 113+.

EUR/JPY at 129.24: The pair moved up Monday from 128.60 to 129.20-30 due to EUR’s rise. Perhaps, the pair could move to test the 13 and 21-Day MA at 129.60-130.20 this week. and then resume its move to support at 127.5 on daily line next week.

Sterling (GBP) at 1.2937: GBP is seeing stable movement at 1.294-1.298. But, GBP did break below important long term support on weekly at 1.3050, the trend is Bearish and a test of support on daily 1.290-1.288 can occur in here.

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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