Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: Nothing new. PE

The US Dollar (.DXY) Index at 94.76 seeing some resistance 94.85, which could produce a dip. If it crosses 94.85, then it could again test 95 yet this week

Note: The US CPI data release today would be important stronger than expected CPI inflation would strengthen .DXY.

EUR (Euro) at 1.1672 the 1.167-1.165 is a strong support zone.

Note: The ECB mins’ release will be Key. as it could drive strength into the single currency if it turns out Hawkish.

USD/JPY at 112.26 breached Key resistance at 112 and now looks Bullish to 114.0-114.5.

Note: If US CPI beats expectations Thursday, the rise to 114 could be fast.

EUR/JPY at 131.05 broke the 21-Wks MA at 130.28, and Bullishness to 135 is on the cards. Bullish projections for EUR and the unexpected Bullishness in USD/JPY support the view of a move to 135.

Sterling (GBP) at 1.3197 moved lower, and could continue to 1.31 in here.

Stay tuned…

The following two tabs change content below.

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.

You must be logged in to post comments :