Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: Nothing really new. PE

The US Dollar (.DXY) Index at 94.29 has broken support near 94.5, next support is at 94 which it could test in early this week. A test of 94 by .DXY could correspond with a test of 1.18 by EUR.

EUR (Euro) at 1.1739 moved past resistance at 1.1715 and is trading near higher at 1.174-1.175. A breach of this mark could take it up towards 1.185. If 1.175 holds, the single currency may  dip to 1.16 to continue ranging. A break out from the range in either direction seems likely.

USD/JPY at 110.94 has seen a sudden downturn and is close to major support at 111. If the pair breaks below 111 decisively, then 113 might be a medium term Top.

EUR JPY at 130.24 dipped and could test support at 129.50 in here. There is strong support at 127.

Sterling (GBP) at 1.3142 the GBP is gaining strength and may mark 1.32 in here. The broader trend looks Bearish. A claer break below the 89 Weeks MA on weekly line confirms Bearishness medium term.

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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