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 93.12 is dipping after testing at 93.6 Wednesday. It could dip further towards support on daily at 93 before resuming its uptrend. It should target 94-95 yet this month.

EUR (Euro) at 1.1831 dipped to a low of 1.1763 Wednesday and is near the 55 Wks MA now. It could be seeing some upward correction to resistance at 1.185. But, as .DXY tests at 94-95, the single currency could test to 1.17-1.16.

USD/JPY at 110.14 is trading in the 110.0-110.5 area. There is the chance of it moving to 111, then turning Bearish medium term.

EUR/JPY at 130.30 marked to 129.5 Wednesday as EUR dipped to 1.1763, thereby tested support on 3 day. It might range with 131-129.5 now for a bit,  as the USD/JPY stays at 110-111 and the EUR moves to 1.17.

Sterling (GBP) at 1.3563 tested support at 1.345 Wednesday and has risen. It could now range within 1.345 and 1.37 for few days before heading South again.

Stay tuned…

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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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