Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: Nothing new. PE

The US Dollar (.DXY) Index at 93.7 and bounced. The 34 days MA near 94.3 is next resistance. But, my preference is a move South to 93.44 in here.

EUR (Euro) at 1.1752 at rose to 1.179 Monday but faded to 1.175. There is support at 1.173-1.174, after test there the single currency may bounce to 1.18. There is Major resistance 1.181-1.182, a clear break there is Very Bullish EUR.

USD/JPY at 111.02 moved up from 110.5, see it restricted 111.0-111.5 by long term resistance. A clear break below 110 is necessary for Bearishness, that can happen next week.

EUR/JPY at 130.49 the pair has gone up 130-131 on the back of Bullishness USD/JPY. See EUR/JPY dipping  next week. If USD/JPY breaks above 111.5, then the Bearish view comes back to EUR/JPY.

Sterling (GBP) 1.3250 marked a high of 1.3363 Monday and faded. While above 1.3250 GBP could break 1.33 again. A clear break of 1.3250 see 1.31-1.30. Political instability in the UK could add to Sterling’s weakness.

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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