Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing

$DXY$EUR$GBP$JPY

Commentary: Nothing New. PE

US Dollar (.DXY) Index 93.87 trades around the 93.4-93.8 during the last 3 sessions.

Note: Tuesday, the US CPI met expectations did not have a Bearish impact on USD. The FOMC meet Wednesday will be important, as any sign of Dovishness could push .DXY down to 92.8-93.0.

EUR (Euro) at 1.1747 has not moved to 1.1875-1.1900 yet.

Note: The FOMC meet Wednesday could impact the Euro, and the ECB meeting Thursday may be more important, an expecting ECB’s Hawkishness to take EUR to 1.19.

USD/JPY at 110.60 looks Bullish to 111.0-111.5 in here.

Note: Expectation of FOMC’s rate hike and the Bank of Japan’s maintenance of status quo in this week might be taking the pair up. Medium term, USD/JPY could turn Bearish after testing to 111.0-111.5.

EUR/JPY at 129.93 is still trading around 129.5-130.0. The possibility of EUR moving above 1.18 and USD/JPY touching 111 implies that the pair could test higher to 131 yet this week.

Sterling (GBP) at 1.3363 looks Bearish to 1.33-1.32 now. On the Southside, 1.31 is a Key mark, a clear break there may be Bearish medium term.

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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