Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing

$DXY, $EUR, $GBP, $JPY

Commentary: Nothing new. PE

The US Dollar (.DXY) at 93.79 saw a high near 93.8 Friday and is continuing to trade there. A dip might be restricted support at 93.4-93.5. There is a good chance of a .DXY test at 95 in this week or next week.

EUR (Euro) at 1.1753 might test to 1.155 if .DXY tests near 95. The 89-Wks MA for the single currency could produce a bounce is at 1.145. Any Northside correction may be restricted at 1.18.

USD/JPY at 111.03 marked a high at 111.07 and is trading near there now. currently, as the revised upside target is at 112, which corresponds with Key long term resistance.

EUR/JPY at 130.49 looks like it could test resistance at 131.5 in this week, then dip to support at 129 soon.

Sterling (GBP) at 1.3453 could see ranging within 1.345 and 1.36. If GBP breaks support at 1.34 it would turn Bearish.

Have a terrific week,

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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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