Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: Again, .DXY strengthened, EUR weakened. PE

The US Dollar (.DXY) Index 95.29 could see a dip to 95.00-94.75 Friday, and next week, it could rise from support at 94.75 back to 95.5 and …

EUR (Euro) at 1.1570 has seen a high at 1.1601-1.1617 over Thursday and Friday. There is resistance at 1.162 and 1.165 which it could test Friday, then move to 1.15 in the coming week.

USD/JPY at 110.48 continues in a range within 110.7-110.0. Next week could possibly see a break of this range the Southside. Long term resistance at 110.5-111.0 to hold.

EUR/JPY at 127.85 rose above support at 127.75 as EUR tested highs 1.1617 and USD/JPY remained ranged. The horizontal support is 127 is Key, and a break there is required to confirm medium term Bearishness to 124.

Sterling (GBP) at 1.3074 tested support near its low of 1.3050 Thursday. This support could hold into next week, driving to 1.32 again. A clear break of this major support would be Very Bearish GBP.

Have a terrific weekend

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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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