Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: Nothing new. PE

The US Dollar (.DXY) Index at 94.19 could move to support at 94 Wednesday. A clear break below 94 for .DXY correspond with a break above 1.176 for EUR. If that happens ,DXY could become Bearish to 93.44.

EUR (Euro) at 1.1731 saw 1.169 and bounced to 1.174. If it moves above 1.176, it could turn Bullish to 1.185. This Bullish move can occur.

USD/JPY at 111.09 moved towards 111.50 but was halted at 111.4  It is now testing resistances and looks set for a dip. The global flight towards safe-haven assets could trigger a down turn in the pair.

EUR/JPY at 130.32 if the pair ends the week below 130.25 the chances of a down-move next week increases. Need to see close above 130.25 to change from Bearish to Bullish.

Sterling (GBP) at 1.3261 could test resistance 1.33 Wednesday. I see it at 1.32 by Friday.

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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