Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing

$DXY, $EUR, $GBP, $JPY

Commentary: Nothing new. PE

The US Dollar (.DXY) at 93.45 marked a low at 93.12 Thursday but did not test support at 93.25-93.00, that test could happen next week, then after .DXY should move to 94-95 where is will likely be capped.

EUR (Euro) at 1.1804 marked a high at 1.1837 Thursday but did not test resistance. It could still see a move to 1.182, and then 1.185, but again, a test at 94-95 by .DXY implies the single currency testing to 1.17-1.16.

USD/JPY at 110.96 has tested at 110.99 and looks now at 111, then 112 which corresponds with Key long term resistance on weekly. Near term to 111.50, then dip to 110.75-110.50 and then to 112.

EUR/JPY at 130.98 could move to resistance at 131.5-132.0, parallels rise in EUR and USD/JPY to 1.182-1.185 and 111.5 respectively if it happens.

Sterling (GBP) at 1.3516 may hit a range within 1.345 and 1.36, but medium term GBP looks Bearish to me.

Have a terrific week

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