Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: Nothing new. PE

The US Dollar (.DXY) Index at 93.18 did not dip to 92.4-92.5 Tuesday, it rose to a high near 93.28 and is currently trading near 93.2, our projection for .DXY is coming close to its medium term target of 94-95 in the next 1-2 weeks may well come true.

EUR (Euro) 1.1852 marked a low of 1.1838 Tuesday, and is currently trading near 1.185. Corresponding to .DXY move to 93.70-94.50, the single currency could have its current move South restricted at 1.1775-1.1655, then start rising. If .DXY tests 95, EUR could test to 1.160-1.158.

USD/JPY at 109.54 has risen after testing support on the on daily candle at 108.76. This move could take it to 110.0-110.5-110.75 near term. The uptrend looks capped at 110.50-110.75 medium term, after which the pair could turn Bearish.

EUR/JPY at 129.83 tested support at 129.3 Tuesday. Expect it to break support when USD/JPY turns Bearish after testing 110.00-110.75 and EUR continues South to 1.16.

Sterling (GBP) at 1.3534 rose to 1.359 Tuesday, but dipped. If GBP rises above 1.354-1.355, it might see 1.36 or 1.37). But, if it moves to 1.35, it may extend to 1.325.

Stay tuned…

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.