Forex Major Pairs Morning Briefing

Forex Major Pairs Morning Briefing

Forex Major Pairs Morning Briefing


Commentary: USD trading lower and EUR is moving higher, both towards there respective support and resistance in here. PE

The Dollar (.DXY) Index at 95.15: ,DXY could move lower to 94.8, its 21-Day MA over the rest of this week. If .DXY breaks below 94.8, the trendline support is at 94.5, which should hold in here, leading to a move to 95.5 sometime next week.

EUR (Euro) to 1.1614: The single currency could rise to 1.165-1.167 over Thursday and Friday. The next resistance is seen at 1.165-1.167, the 21-Day MA and 13-Wks MA, which may lead to a dip to 1.155 next week.

USD/JPY (Dollar Yen) at 110.78: The pair broke below support at 111. The 21-Day MA on the 3-Day line is 110.65 may provide interim support now. While the pair trades above 110.59, it can move up to 112 in here. A clear break below 110.59 may make USD/JPY Bearish to 109.49 very soon.

USD/JPY (Euro Yen) at 128.66: The pair looks Bearish to support at 127.5-127.0, as seen on the daily line and 3 day candle, and could test there next week. The Northside could be capped at 129.5 by the 13-Day MA.

Sterling (GBP) at 1.2880: The Great British Pound moved down to test support at 1.285 on the daily candles. It could very well see a rise to 1.30 in the next few sessions before resuming the current downtrend. An clear break below 1.285 now, could now negate a Northside move back to the 1.30 mark.

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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