Forex Morning Briefing

Forex Morning Briefing

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.

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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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