Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: .DXY weakened, EUR weakened. PE

The US Dollar (.DXY) Index at 94.86, 1st support 94.5, likely will test next week. But, while it trades above 94.5 it may see 95.5 again in here

EUR (Euro) at 1.1603 dipped to 10 months lows Thursday at 1.1508, and bounced to 1.16. If it breaks 1.162, it could move to 1.173 the major resistance. If not break at 1.162 then Bearish to 1.145 next week.

USD/JPY at 110.01 is ranged within 111.0-109.5. A clear  break below support at 109.5-110.0 is likely and then Bearish to 107 medium term.

EUR/JPY at 127.65 might spend another week trading within 127-130 above horizontal support on weekly line.  But, seeing a move to 1.24 coming soon.

Sterling (GBP) at 1.3257 tested support at 1.31 Thursday and bounced and may rise to 1.335 next week, then dip to 1.30 in the next week or 2.

Have a terrific weekend.

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 :