Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: Nothing new. PE

The US Dollar (.DXY) Index at 95.01 bounced Tuesday and is now looking Bullish to 95.5, and its prior high at 95.53 is a Key mark. A a clear break there is Bullish USD.

EUR (Euro) at 1.1653 moved up to 1.1745 Tuesday, but dipped before testing resistance at 1.176-1.177. A test of support at 1.16 is likely.

USD/JPY at 112.93 is breaking above resistance at 112.9. Looking at the 3-Day line, a test of 114 look imminent this week. Bullishness in the Nikkei suggests that the pair could remain Bullish to 115 in here.

EUE/JPY at 131.60, as 131.58 is still good resistance to the pair in its move to 133. This resistance should break soon as the USD/JPY moves to 114.

Sterling (GBP at 1.3110 fell Tuesday to 1.3070. It is testing horizontal support, which might hold a bit longer, before a break of support happens. GBP looks Bearish medium term.

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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