Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: Seeing continuing weakness ahead for USD. PE

The US Dollar (.DXY) Index at 89.51 marked a low at 89.23 Tuesday testing support at 89.25, and now see 89.8 as 1st resistance. Higher resistance is at 90.0-90.5, if it marks there will produce a dip.

EUR (Euro) at 1.2377 saw a high at 1.2414 Tuesday testing to resistance near 1.2400-1.2420 on the daily lines, faded to close at 1.237 and continues to hang there. The next support is near 1.233-1.235.

USD/JPY at 107.25 marked a low at 106.88 Tuesday breaking below 1st support, but closed just above 107 and is currently trading at 07.2-107.3, the pair could dip to below 107 and turn Bearish near term. If that occurs, see target to 106.5 soon.

EUR/JPY at 132.74 seeing resistance 133. The range is likely to be between 133-132 as USD/JPY could fall below 107, while EUR could dip to 1.235.

Sterling (GBP) at 1.43 will see resistance at 1.43-1.435, this is an important mark, as a clear break there  implies Bullishness to 1.45-46 medium term.

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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