Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing

$DXY, $EUR, $GBP, $JPY

Commentary: Pressure on the Buck is up. PE

The US Dollar (.DXY) at 93.30 moved up after the benchmark US 10yr T-Note Year yield rose past 3% Monday. This was in response to US Retail Sales data.

Note: .DXY moved up from the 13-Day MA at 92.5 to a high near 93.46. It could see a dip to 93 over Tuesday and Wednesday. But, then target 94-95 by next week if the uptrend continues.

EUR (Euro) at 1.1828 fell, and is now testing the 55-Wks MA, and pause on the way to 1.187-1.188.

Note: If .DXY tests near 94-95 next week, the single currency could test to 1.15 or lower.

USD/JPY at 110.25 and rose to a high at 110.46, and could test to 111, then turn Bearish medium term.

EUR/JPY at 130.38 saw resistance, and dipped. But, could rise to 131 if the EUR rises to 1.187 and USD/JPY stays near 110.5.

Sterling (GBP) at 1.3498 as USD’s strength pushed GBP below 1.35. There is support there, which could pause its downtrend near term.

Stay tuned…

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