Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing

$DXY, $EUR, $GBP, $JPY

Commentary: Nothing new. PE

The US Dollar (.DXY) Index at 92.474 marked a low of 92.35 Friday but has risen from there, while it trades below 92.5, it can range with 92.5-92.3 for a while, if .DXY trades below 92.3, it could test 92.0-91.50. A clear break of 92.5 drive it to 94-95.

EUR (Euro) at 1.1971 looked capped at 1.20. If the single currency moves above 1.202, it could make 1.205-1.210 before resuming its downtrend medium term. A dip below 1.193 would make it Bearish to 1.16-1.17

USD/JPY at 108.98 dipped to 109 after testing at 110.04 last week. It has support at 108.75-108.90, if it bounces could move to 110.5-110.75 near term. The broader uptrend looks capped at 110.50-110.75 medium term, then after USD/JPY may turn Bearish.

EUR/JPY at 130.47 broke below support at 131 last week. Support at 130.00-129.75 is expected to hold this week.

Sterling (GBP) at 1.3554 turned Very Bearish last week after breaking below Key support at 1.385 on weekly lines, its next target is 1.35-1.345, which might well test this week.

Have a terrific week.

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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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