Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: Nothing new. PE

The US Dollar (.DXY) Index at 94.43 will see support at 94.3, then .DXY could weaken towards 93.3-93.0. If the trade negotiation chatter heaths up then .DXY could strengthen towards 95.5 as a safe haven. Right now seeing .DXY falling to 93.

EUR (Euro) at 1.1687 looks to want to move North in here, 1.172 is strong resistance, on a clear break there a move to 1.185 in the next 1-2 weeks might occur or a fall to 1.14 5 could happen instead. Release of US NFPs and official announcement of US tariffs on China maybe important today, and may already be priced in.

USD/JPY at 110.68 has broken resistances this week but longer term resistance 111.5-112.0 is strong. Maybe next week the ranging with open making the pair Bearish to 110 and lower.

EUR/JPY at 129.35 is testing resistance on both short term and long term charts. This may be an indication that we will see some direction in the next week after 5 weeks of ranging. Southside target is 124 medium term.

Sterling (GBP) 1.3212 looks stable 1.32 but may see 1.33 again in here. GBP looks Bearish. A clear break of 1.30 confirms our Bearish take.

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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