Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: .DXY strengthened, EUR weakened. PE

The US Dollar (.DXY) Index at 95.15 is moving to resistance at 95.5-95.6 on the 3-Day line, next week?

EUR (Euro) 1.1574 tested to 1.155-1.153 Wednesday and has dipped to 1.156. While the single currency trades above 1.153, it might rise to 1.16 today. A clear break below 1.153 makes it Bearish to 1.145.

USD/JPY at 110.56 is ranged within 111.0-109.5.  A clear break below support at 109.5-110.0 makes the pair Bearish to 107 medium term.

EUR/JPY at 127.98 again,chances of Bearishness in both EUR and USD/JPY imply a possible break of horizontal support at 127.0 by the pair next week, the target is 124, which could be tested soon.

Sterling (GBP) at 1.3171 is approaching support at 1.31 expected to occur  by next week and then a further dip to 1.30.

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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