Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


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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