Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: Seeing some strength ahead for USD. PE

The US Dollar (.DXY) Index at 89.69 rose after testing support at 89.25 day before Tuesday, and now 89.8 looks like immediate resistance, if it breaks 89.8, then 90.00-90.25 could be next resistance, then a dip.

EUR (Euro) at 1.2375 tested resistance near 1.2400-1.2420 on daily lines Tuesday. It has been ranged within 1.239-1.234 since, seeing support on the daily and 3-Day lines 1.233-1.235.

UDS/JPY at 107.40 has  risen almost to 107.5. But, it is still below trendline support on the daily candles and may take a Bearish turn to 106.5 in here.

EUR/JPY at 132.97 seeing resistance 133 on the weekly lines. and the range for this week is likely to be between 133-132, as USD/JPY might not rise much beyond this mark, and EUR could remain ranged within 1.239-1.233.

Note: EUR/JPY may turn Bearish medium term.

Sterling (GBP) at 1.419 dipped after testing major resistance at 1.43-1.435. It could now dip to 1st support at 1.415-1.410 on daily line before rising once more.

Stay tuned…

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