Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: .DXY weakened, EUR stronger? PE

The US Dollar (.DXY) Index at 94.52 has support near 94.25-94.00, and may move to this mark this week, as EUR may rises to 1.17.

EUR (Euro) at 1.1656 moved up Friday, testing at 1.1675, next resistance 1.167, and on a clear break see 1.170-1.175 and then a dip.

USD/JPY at 109.53 is trading below support at 109.7-109.8. If this break holds it may be the beginning of JPY strength medium term. The next target would be 109, and below that, support near 107, which could be tested soon.

EUR/JPY at 127.61 which implies another few sessions of ranging for the pair. Then see a downtrend to 1.24 ahead.

Sterling (GBP) at 1.3257, marked 1.3315 Friday, after having bounced from support. GBP could move up to 1.338 in the next 1-2 sessions and then dip back to 1.32-1.31. It’s target mid term target is support at 1.30.

Have a terrific week.

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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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