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…

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