Forex Morning Briefing
$DXY, $EUR, $GBP, $JPY
Commentary: Nothing new. PE
The US Dollar (.DXY) Index at 94.89 see a down-move in .DXY to 94.3-94.2, while it stays below resistance at 95.
EUR (Euro) at 1.1585, support at 1.155 is holding in here. The single currency could test at 1.165 this week, while it trades above 1.155.
USD/JPY at 110.44 tested at 110.9 Friday, thus testing resistance on the daily lines. This week, it could test at 111.5 an important long term resistance mark, it is likely to hold.
EUR/JPY at 127.93 trades near horizontal support on weekly line. Targets of 111.5 and 1.165 on USD/JPY and EUR respectively implies levels near 129.8-130.0 for EUR/JPY, which corresponds to a test of resistance on daily candles. While the pair trades below 130.5 it looks Bearish medium term.
Sterling (GBP) at 1.3264 could be Bearish to 1.30 medium term. This week, there are equal chances of it testing resistance at 1.335-1.340 or moving to 1st support at 1.315.
Have a terrific week,