Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing

$DXY, $EUR, $GBP, $JPY

Commentary: Nothing new. PE

The US Dollar (.DXY) Index at 93.57 made a new high of 94.06 Monday dipped, and is currently trading at 93.4-93.5. There are still good chances of .DXY testing at 95 in this week or next.

EUR (Euro) at 1.1782 could either dip from here, or could extend North to 1.1825-1.1850 after which a dip. The single currency could test 1.155 next week, if .DXY tests levels near 95.

USD/JPY at 110.9 rose to a high of 111.40 Monday and dipped and may test support at 110.50-110.75, then move back above 111 to 112, which corresponds with Key long term resistance on the weeklies.

EUR/JPY at 130.67 could test resistance at 131.5 if USD/JPY stays near 111. But, given the Bearish view on EUR and the upside being capped by 112 for USD/JPY, EUR/JPY should break Key support 129.5-129.0 soon.

Sterling (EUR) 1.3417 broke below support on daily, testing to 1.339 Monday, we could see a rise to1.35 in here before dipping again.

Stay tuned…

The following two tabs change content below.

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.

You must be logged in to post comments :  
CONNECT WITH