Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: Nothing new. PE

The US Dollar (.DXY) Index at 94.596 see a dip to 94.5-94.4, followed by a rise to 94.6-94.7. This week see a move to 94.3-94.2, while it stays below resistance at 95.5.

EUR (Euro) at 1.1634 moving to 1.165 and could test at 1.167 Tuesday before dipping to 1.162.

Note: Last week the ECB’s decision to keep Key rates constant till Summer 2019 is seen to be Dovish and led to a fall in the single currency from 1.185 to 1.154.

USD/JPY at 109.87 dipped after testing at 110.9. It could see range trade between 111.0-109.5 this week and then break below support at 109.5-110.0, which could make it Bearish to 107 medium term.

EUR/JPY at 127.84 has been testing major support on weekly lines here. A weak close below support at 127 will be Key for EUR/JPY turning it Bearish to 124 medium term.

AUD (Aussie) at 0.7407 is falling sharply, now supports is 0.7370 and 0.7325. These are likely to hold medium term, and a possible move back to 0.75. Near term looks Bearish, the Southside could be limited at 0.7325.

Sterling (GBP) at 1.3267 could be Bearish to 1.30 medium term. This week seeing target support at 1.31 on 3-Day candles.

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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