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…

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