Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: Nothing new. PE

The US Dollar (.DXY) Index at 93.92 weakened Friday due on the beginning of the US-China trade dust-up, .DXY has some support 93.8 on daily lines, seeing 93.2 come soon.

EUR (Euro) at 1.1761 strengthened past resistance near 1.172 and could now move up to 1.185. The early part of this week could see an up-move to 1.18. Resistance at 1.1816 may pause the move to 1.185. The ECB Meeting mins’ release Thursday are important.

USD/JPY at 110.46 looks Bullish to 111.5 is possible. The long term resistance is at 111.5 so expecting the pair to turn Bearish sometime soon. A clear break below 110.25-110.00 must occur to turn the pair Bearish.

EUR/JPY at 129.91 is close to resistance on the short term and long term charts. So, we might see the pair test at 130-131. But, the pair could turn Bearish paralleling USD/JPY.

Sterling (GBP) at 1.3295 is trading close to resistance at 1.33 and might dip this week t 1.32-1.31. GBP looks Bearish medium term. A clear break of 1.30 signals medium term Bearishness.

Have a terrific week

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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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