Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


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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