Forex Morning Briefing
$DXY, $EUR, $GBP, $JPY
Commentary: Nothing new. PE
US Dollar (.DXY) Index at 94.347 tested support near 93.86, then bounced to 94.50, thus testing resistance trendline. If breaks support near 94.10 in here, then see 93.6, which should then produce a bounce for a test at 95, seeing the cap at 95.00-95.65.
EUR (Euro) at 1.1627 tested at 1.173 Monday and fell to 1.161. Tuesday, it could rise to 1.166 then dip to 1.16. The single currency’s target for the next 2 weeks is 1.155-1.145.
USD/JPY at 109.01 dipped to 109 again. If it breaks 109, may see support at 108. A clear break of 108 signals medium term Bearishness.
EUR/JPY at 126.77 broke support at 128-127 on the weekly line. It could now fall to 125 by next week.
Sterling (GBP) at 1.3315 is staying within the channel on daily candles, and the upside may be capped at 1.335, seeing a test to 1.32 this week.
Have a terrific week.