Forex Major Pairs Morning Briefing

Forex Major Pairs Morning Briefing

Forex Major Pairs Morning Briefing


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

US Dollar (.DXY) Index at 95.586: .DXY is moving closer to its prior highs 95.6-95.7. On weekly line a clear break of 95 has .DXY looking Bullish near term.

Note: If US CPI comes out strong Friday, we could see a break above those highs to 96. And, this move could extend to 97-98 in the weeks ahead.

EUR (Euro) at 1.1532): EUR’s dip to 1.155 seen for next week happened Thursday with the single currency tapping lows near 1.152. Note: The ECB’s monthly bulletin highlighting global growth risks due to trade protectionism might have been the trigger for the move South. A close below 1.1508 Friday would be Bearish EUR, and could push it ot support 1.145 next week, then to 1.136, 1.1510-1.1508 is an important support for Euro.

Note: If US CPI Friday does not beat expectations, the support could hold, triggering a rise to 1.165 next week.

USD/JPY (Dollar Yen) at 110.92: The pair has support at 110.60-110.50, it could rise in the next week to 112. A clear break below 110.50 may be Bearish reducing the chances of  a rise to the resistance at 113-115 in the weeks ahead.

EUR/JPY (Euro Yen) at 127.90): The pair looks Bearish to support at 127.5-127.0 next week. EUR/JPY is to 1.145 and USD/JPY staying near 111 is consistent with the pair testing to 127.

Note: Support on weekly line at 127 is major long term support, a clear break there could be Bearish.

Sterling (GBP) at 1.2832): Notably he beak below 1.285 negates the move North to 1.30. But, an move to 1.290-1.295 is possible while GBP trades above 1.28. A break below 1.28 now, could take push it to 1.26 fast.

Have a terrific weekend.

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.