Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing

$DXY$EUR$GBP$JPY

Commentary: Nothing New. PE

US Dollar (.DXY) Index at 93.84 broke below support, next support at 93.65. A break below 93.65 turns .DXY Bearish to 93.3-92.8. A clear break of 92.8 would be Very Bearish medium term.

EUR (Euro) at 1.1723 a break above 1.175 then sees 1.181. If 1.181 breaks, see signs of Bullishness medium term.

USD/JPY at 109.82 broke resistance at 109.6 Tuesday, while trading above 109.8, could go on to test  at 111. A test of 111 should produce a dip.

EUR/JPY at 128.74, a Bullish USD/JPY and a North moving Euro is taking EUR/JPY closer to 129.5-130.0. After a test at 129.5-130.0, the pair should dip. But, a clear break of 129.5-130.0 makes it Bullish medium term.

Sterling (GBP) at 1.3407 tested at 1.341, the 21-Day MA. Now, could dip from here run up to 1.355-1.360. We wait, we see.

Stay tuned…

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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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