Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


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

The US Dollar (.DXY) Index at 94.90: Support for .DXY at 94.5-94.2 held well Monday as it is rising back to 95, and may see 95.2 Tuesday.

EUR (Euro) at 1.1632 the single currency has been ranged within 1.1508-1.1721 the 2 of weeks. The bias has been to the Southside and a dip below 1.16 could mark Tuesday. A clear break above 1.17 or a break below 1.15 is required for this ranging to stop and for a trend to begin.

USD/JPY at 110.92)break of resistance 110.75 is holding, and 111.40 is a important mark now. A breach of 111.4-111.5 would make the pair Bullish. But, 111.5 look like a strong resistance to me.

EUR/JPY at 129.04, the pair has stayed below resistance 129.5. Am expecting to see a gradual down-move to 128-127 yet this week

Sterling (GBP) at 1.3130 resistance at 1.315-1.3175 capping an up-move to 1.32-1.33 for GBP. If the resistance holds, then see a move to 1.3050, 1.30 is a Key mark for GBP, if it breaks lower, then medium term is seen Bearish, if it breaks 1.33 it turns Bullish.

Have a terrific 4th of July!

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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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