Forex Major Pairs Morning Briefing

Forex Major Pairs Morning Briefing

Forex Major Pairs Morning Briefing


Commentary:.DXY was little changed at 96.75 as it saw some selling pressure after marking a 13-month high in morning trade. Overnight USD strength pressured other major currencies like EUR and GBP to new lows for the year, but USD has struggled to hold that high amid mounting bets on an imminent pullback. Still, USD has refused to dip beneath its flat line, and it has shown continued strength Vs most emerging market currencies.  PE

Note: US Treasuries rose on continued concern about emerging market economies,as the RMB Yuan tracked to marking a to the Y 2016 lows.

  • EUR/USD: -0.07% to 1.1337
  • GBP/USD: -0.24% to 1.2688
  • USD/CHF: +0.09% at 0.9946
  • USD/JPY: -0.49% to 110.67
  • USD/CNY: +0.74% at 6.933
  • USD/INR: +0.76% to 70.48
  • USD/RUB: +1.11% to 67.29
  • USD/TRY: -5.52% to 6.021  Note:Qatar pledges $15-B in direct investment in Turkey

EUR (Euro) 1.1375): EUR broke below the 200-Weeks MA at 1.136 Wedneday to a low of 1.1316. Currently, it is trading above 1.136 and may rise to 1.145 in the next week.

The Dollar (.DXY) Index at 96.52: .DXY rose to 97 and pausing in here. It could dip to 96, then rise to 97 important resistance next week, 97 is likely to hold in here.

USD/JPY (Dollar Yen) at 110.85: The pair has major resistance at 111 on daily line . While trading below 111.20, the pair is looking Bearish to 110.0-109.5 within the next week.

EUR/JPY (Euro Yen) 126.13): The pair has not move below its its May 2018 low at 124.62. If the single currency rises to1.145 by next week, EUR/JPY may hold above 124.62. But, I see it moving down to major  support at 123.75-123.00 medium.

Sterling (GBP) 1.2718): The Great British Pound is looking Bearish to 1.25-1.24 now.

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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