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
Latest posts by Paul Ebeling (see all)
- Ferrari (NYSE:RACE) Analyst’s Upgrade - May 23, 2019
- Growth and Trade Concerns Drive Manufacturing Index South - May 23, 2019
- New Home Sales Fall From 11-Yr Highs, Prices Up - May 23, 2019