Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: .DXY weakened, EUR stronger. PE

The US Dollar (.DXY) Index at 94.195 has moved lower to support 94.1-94.0. Prefer this support to hold, if it does not, the next target is 93.

EUR (Euro) at 1.1717 moved past the 21-Day MA at 1.167 Monday and will likely test trendline resistance at 1.1725, if it breaks this resistance, it may become Bullish to 1.185.

USD/JPY at 109.45 continues to trade slightly below support on the daily candles. A further dip below 109.2-109.0 indicate the beginning of JPY strength medium term. Support near 107 on 3-Day Line could be tested later.

EUR/JPY at 128.23 seeing support 127.5, and resistance 129.5-130.0, the pair might break below 127.5 this week. Seeing a downtrend to 1.24 out there.

Sterling (GBP) at 1.3257 could rise to 1.335 in here, then dip to 1.32-1.31. My target is support 1.30 in here.

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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