Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: Nothing really new. PE

Note: US President Donald Trump’s comments that he is not thrilled by the Fed’s rate hikes.

The US Dollar (.DXY) Index at 95.17 tested a 1 year high at 95.65 Thursday and dipped.  A rise to 96 could correspond with EUR’s falling to 1.15. .DXY may face resistance at 96.

EUR (Euro) at 1.1649 dipped to test the support a 1.1575 and bounced, 1.1715 is a major resistance mark. A clear break below 1.1575 opens the way to 1.15-1.145, that could be a strong support medium term.

USD/JPY at 112.44 saw a low at 112.06 Thursday. Bullish the pair to 114. After a test at 114-115 in the next 2 of weeks, the pair could turn Bearish.

EUR/JPY at 130.98 may test support at 130.0-129.5 next week. If this support breaks, it would be Bearish the pair.

Sterling (GBP) at 1.3017 marked at low at 1.296 Thursday. Prior support 1.3050 might now act as resistance for GBP, as it possibly becomes Bearish going forward.

Have a terrific weekend

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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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