Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: .DXY strengthened, EUR weakened . PE

The US Dollar (.DXY) Index at 95.02 strengthened against most peers Tuesday marking a high 95.30. It could now move to 95.5-95.6 on the 3-Day lines, a break there targets 96 in here

EUR (Euro) at 1.1584 fell Tuesday dipping below major support at 1.156 to see a low at 1.153. The single currency could now break below this support. If it does the target is 1.145.

USD/JPY at 110.14 marked a low at 109.55 Tuesday and bounced. See more trade within 111.0-109.5 then break below support at 109.5-110.0 which could make it Bearish to 107 medium term.

EUR/JPY at 127.58 is likely to break horizontal support on weekly line at 127.0 this week. The target then is 124 within the next 1-2 wks.

Sterling (GBP) at 1.3166 moved South to 1.31 Tuesday, marking a low at 1.3151. A test of support at 1.31 in here, then to 1.30 in the next 1-2 wks.

Stay tuned…

The following two tabs change content below.

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.

You must be logged in to post comments :