Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: Nothing new. PE

The US Dollar (.DXY) Index at 94.73 dipped from resistance near 95, and now a dip to support 94.0-94.2 is possible in here.

EUR (Euro) at 1.1682 broke below the 21-Day MA at 1.16 Friday, but is trading above it now. Another week of range trade within 1.175-1.16 could follow.

USD/JPY at 112.49 is looking Bullish in the coming couple of weeks. And it could test at 114 by next week, there is some resistance at 114 and then at 115. The bias is Bullish this week.

EUR/JPY at 131.42 broke Key resistance last week at 130, the pair is Bullish for the next 2 weeks, with chances of a pause in the 131.5-132.0 resistance area. If it moves past it, then see a test at 133.5 next week. Near term Bullishness might be capped at 35.

Sterling (GBP) at 1.3236 could test 1.33 Monday again and then dip towards 1.305 this week, and 1.305 is a Key support zone, when it breaks makes GBP Very Bearish.

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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