Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: .DXY strengthened, EUR weakened. PE

The US Dollar (.DXY) Index at 94.62, support for .DXY 94.1-94.2 held Tuesday and it is now bouncing to 95.0-95.5.

EUR (Euro) 1.1655 came down from resistance at 1.1720-50 Tuesday. It may break below support at 1.1650-30 yet this week, which would make it Very Bearish. But, if the single currency moves up and breaks 1.1750, it could be headed to 1.185.

USD/JPY at 109.94 rose to 110, thus negating it’s prior break of support on the daily candle. Perhaps a test at 110.50-110.75 comes and the the Bearish turn.

EUR/JPY at 128.14 is respecting support 127.5, and resistance 129.5-130.0 in here, watch if for direction.

Sterling (GBP) at 1.3226 is trading midway in the downward channel on daily and 3-Day candles. It could move North to test resistance at 1.335 or South to test support at 1.31. Watch it for direction for the next week or 2.

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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