Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing

$DXY, $EUR, $GBP, $JPY

Commentary: Nothing new. PE

The US Dollar (.DXY) Index at 93.921 tested support at 93.6 Thursday. While trading above 93.7, it should test at 94 again and then perhaps to 94.2-94.4, them dip to 94. The Northside cap is 95.00-95.65.

EUR (Euro) at 1.1710 rose to 1.175 Thursday and dipped, may see 1.165 in here, followed by some retracement to 1.17. The single currency should test to 1.155-1.145 as .DXY tests at 95.00-95.65.

USD/JPY at 109.57 tested to 108.9 Thursday. The pair might be driven to 110.5. However, if it goes above that mark, then it could test at 111.5-112.0 next week. Expect USD/JPY to turn Bearish medium term .

EUR/JPY at 128.29, the pair tested to 127.7 Thursday as USD/JPY tested to 108.9. Seeing the possibility for the pair to turn Bearish 126 soon.

Sterling (GBP) at 1.337 could dip to 1.3275-1.3250 next week. The current Southside target for the next couple of weeks is 1.31.

Have a terrific weekend

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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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